Due to multiple factors Chicago, IL is becoming increasingly attractive for real estate investors in 2023. Chicago is currently ranked as the 3rd most populous city in the US and is the largest city in the state of Illinois. In the past year Chicago home prices have increased 5.2% and the median house value is $365,000. The city is known for its culture and worldwide recognition, and 55.6% of Chicago residents currently rent their homes.
Over the next year it is anticipated that Chicago will remain a popular city for real estate investing for a few reasons:
If you are an investor looking for your next property, or looking to start a portfolio from scratch, Chicago may be the place for you.