How much income do I need to buy a home in Chicago?

It's not possible to tell you exactly how much income you need to buy a home just from the listing prices. Many personal factors like your down payment, credit score, and current interest rates all play a big part. The latest median listing price for a home in the area is $389,450. This is the middle price of all homes currently on the market, meaning half are listed for more and half for less. Comparing this to last year, the median listing price has gone up by 4.6%. However, from the prior month, it actually dipped slightly by 1.4%. Homes are selling a little faster too, with the median time on the market being 36 days. This is 4.0% quicker than over the past year. Right now, there are 15,929 active listings, which is 5.3% fewer homes available than a year ago. Fewer homes for sale can sometimes make it more competitive for buyers. To figure out what you can afford, it's best to speak with a mortgage lender who can look at your full financial picture.