U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > General U.S. > City vs. City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-20-2012, 11:47 PM
 
2,665 posts, read 4,694,476 times
Reputation: 842

Advertisements

How much cheaper is Chicago compared to NYC? I see diff figures. Discussing cities and their suburbs, particularly interested in how Northern NJ compares to Chi burbs. While some salaries can be higher in the NYC area, most are not significantly higher to cover the premium COL. While I understand why NYC is very expensive, what's more interesting to me is that why Chi is cheaper than all the other comparable American cities. What are the reasons of its affordability, besides harsher weather and non coastal location?
Reply With Quote Quick reply to this message

 
Old 10-20-2012, 11:52 PM
 
Location: Nob Hill, San Francisco, CA
2,346 posts, read 3,200,339 times
Reputation: 1077
Single family home
San Jose-Sunnyvale-Santa Clara $660,000
San Francisco-Oakland-Fremont $552,600
San Diego-Carlsbad-San Marcos $379,100
New York-Northern NJ-Long Island $377,600
Washington-Arlington-Alexandria $367,000
Boston-Cambridge-Quincy $362,100
Los Angeles-Long Beach-Santa Ana $296,800
Seattle-Tacoma-Bellevue $290,700
Denver-Aurora $260,700
Baltimore-Towson $244,000
Portland-Vancouver-Beaverton $233,900
Hartford-West Hartford-East Hartford $226,300
Philadelphia-Camden-Wilmington $219,700
Austin-Round Rock $218,700
Providence-New Bedford-Fall River $217,500
Miami-Ft Lauderdale-Miami Beach $206,700
Milwaukee-Waukesha-West Allis $189,700
Chicago-Naperville-Joliet $187,700
Riverside-San Bernardino-Ontario $183,000
Minneapolis-St Paul-Bloomington $174,500
Sacramento-Arden Arcade-Roseville $170,200
Houston-Baytown-Sugar Land $168,300
New Orleans-Metairie-Kenner $165,100
Dallas-Ft Worth-Arlington $163,000
San Antonio $162,800
Nashville-Davidson-Murfreesboro $159,800
Kansas City $148,400
Phoenix-Mesa-Scottsdale $148,400
Columbus $142,100
Orlando $136,100
Cincinnati-Middletown $135,400
St Louis $134,700
Las Vegas-Paradise $130,700
Memphis $123,500
Cleveland-Elyria-Mentor $103,900
Atlanta-Sandy Springs-Marietta $103,200
Detroit-Warren-Livonia $60,200

http://www.realtor.org/sites/default...2012-08-09.pdf

Chicago is a bargain.
Reply With Quote Quick reply to this message
 
Old 10-20-2012, 11:55 PM
 
Location: Nob Hill, San Francisco, CA
2,346 posts, read 3,200,339 times
Reputation: 1077
Quote:
Originally Posted by OleSchoolFool View Post
What are the reasons of its affordability, besides harsher weather and non coastal location?
It has nothing to do with weather or location, Denver and Austin have neither but are still more expensive than Chicago. NYC is a sellers market as in it has less than 6 months of supply for pent up high demand, this raises your real estate prices up the nose. Chicago is a buyers market, it has more supply than demand which keeps its real estate prices lower.
Reply With Quote Quick reply to this message
 
Old 10-21-2012, 10:58 AM
 
2,665 posts, read 4,694,476 times
Reputation: 842
but chi was cheap b4 the downturn too, and it doesn't make sense that lower tier cities like denver, austin and portland are more expensive, esp portland with its less than mediocre employment prospects
Reply With Quote Quick reply to this message
 
Old 10-21-2012, 09:49 PM
 
Location: Nob Hill, San Francisco, CA
2,346 posts, read 3,200,339 times
Reputation: 1077
Quote:
Originally Posted by OleSchoolFool View Post
but chi was cheap b4 the downturn too, and it doesn't make sense that lower tier cities like denver, austin and portland are more expensive, esp portland with its less than mediocre employment prospects
Austin, Denver, and Portland are sellers markets because they have less than 6 months supply of real estate. Chicago has more than 6 months supply so its a buyers market and not as much demand so it's prices stay lower. The downturn in the market just made all cities cheaper because of foreclosures, etc.
Reply With Quote Quick reply to this message
 
Old 10-21-2012, 11:00 PM
 
2,665 posts, read 4,694,476 times
Reputation: 842
i dont kno bout other places, but portland is not a seller's market
Reply With Quote Quick reply to this message
 
Old 10-22-2012, 09:58 AM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Western Massachusetts
45,751 posts, read 39,675,031 times
Reputation: 14671
Quote:
Originally Posted by scrantiX View Post
Chicago is a bargain.
First, that's for single family homes. Most of NYC's housing stock is rowhouses or apartment buildings though there are some single family homes. But if the OP is looking at the city itself ranking by single family homes might not be relevant. Also, Chicago's prices may be dragged down by declining neighborhoods few would want to move into if they had the choice.
Reply With Quote Quick reply to this message
 
Old 10-22-2012, 10:38 AM
 
2,665 posts, read 4,694,476 times
Reputation: 842
^but all major cities have declining nhoods you wouldn't wanna move to, esp nyc/nj
Reply With Quote Quick reply to this message
 
Old 10-22-2012, 11:19 AM
 
1,750 posts, read 2,804,900 times
Reputation: 764
Quote:
Originally Posted by OleSchoolFool View Post
but chi was cheap b4 the downturn too, and it doesn't make sense that lower tier cities like denver, austin and portland are more expensive, esp portland with its less than mediocre employment prospects
When comparing apples to apples, ie. similar neighborhoods, Chicago is more expensive than Denver, Austin, and Portland. Only on City Data, is insanely high housing costs seen as a positive.

I do a lot of investing in real estate, and consider myself to be quite educated in most major markets, and the following metros are the only ones I have seen that are clearly more expensive than Chicago:

New York
San Fran
Boston
DC
Los Angeles
San Diego

Seattle may have a higher average price market wide, but that is because Chicago has a much higher percentage of depressed/dilapidated neighborhoods, where Seattle is pretty middle class metro wide, or at least much more so than Chicago. However, like a stated, when comparing apples to apples the above list are the only markets that are across the board more expensive.
Reply With Quote Quick reply to this message
 
Old 10-22-2012, 11:43 AM
 
2,665 posts, read 4,694,476 times
Reputation: 842
Quote:
Originally Posted by prelude91 View Post
When comparing apples to apples, ie. similar neighborhoods, Chicago is more expensive than Denver, Austin, and Portland. Only on City Data, is insanely high housing costs seen as a positive.

I do a lot of investing in real estate, and consider myself to be quite educated in most major markets, and the following metros are the only ones I have seen that are clearly more expensive than Chicago:

New York
San Fran
Boston
DC
Los Angeles
San Diego

Seattle may have a higher average price market wide, but that is because Chicago has a much higher percentage of depressed/dilapidated neighborhoods, where Seattle is pretty middle class metro wide, or at least much more so than Chicago. However, like a stated, when comparing apples to apples the above list are the only markets that are across the board more expensive.
o i hear ya
well still then Chicago is the cheapest of the cities of its class like the ones you listed, like i said seattle, austin and denver are lower tier, and chi is also a lil cheaper than philly
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > General U.S. > City vs. City
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top