As rent and home prices across the nation remain high, Chicago just ranked on a new list of the “most expensive places to live” in the U.S. for 2024.
The new list, from U.S. News and World Report, ranked cities cross the country based on median gross rent and annual housing costs for mortgage-paying homeowners, editors said.
From there, editors ranked the 25 cities that “require the most wealth to live comfortably.”
With 10 cities represented, California was the state that appeared most often on the list. The No. 1 spot belonged to Hartford, Connecticut, with a median home price of $214,546, and median monthly rent of $1,193, the list said.
Los Angeles came in at No. 2, with a median home price of $869,305, and a median monthly rent of $1,944, the report said. New York City landed at No. 5, with a median home price of $834,096 and a median monthly rent of $1.852.
While Chicago landed on the list, it was towards the end on the list of 25, at No. 23. According to U.S. News, the median home price in Chicago is $347,200, with a median monthly rent of $1,395.
Recently, four Chicago suburbs ranked on a list of the “safest and riches” places to live in the U.S.
The full report of “Most expensive places to live” from U.S. News and World Report can be found here.