Compared to Int’l Markets, Real Estate in Chicago is a Steal

by Peter Ricci

We may complain about high housing costs in the U.S., but internationally speaking, we don’t have a leg to stand on.

international-real-estate-us-housing-affordability-expensive-housing

It’s a common complaint among consumers that their rent/mortgage payments are too high, but if they only knew what some consumers pay in other spots on the globe, they may have second thoughts about their complaints!

According to the 10th Annual Demographia International Housing Affordability Survey, which analyzed hundreds of housing markets across the globe in 2013′s third quarter, housing in the U.S. and many of its metropolitan areas is not only reasonable, but downright affordable compared to other world-class cities.

Don’t believe us? Take a look at our charts below, which collect Demographia’s findings.

Also, here’s an interesting trivia fact: several of Illinois’ housing markets are among the most affordable in the world, including Rockford, which features none other than the world’s most affordable housing market. That’s right – Rockford has the most affordable housing market in the developed world! Also deserving of mention are Decatur, which came in at No. 4, Springfield (8), Davenport-Moline (10), Kankakee (10), Peoria (10) and Bloomington (24).

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