Chicago is among 18 of the 50 largest U.S. cities where it’s better to buy a home than rent one, according to a new analysis. 

Chicago’s price-to-rent ratio puts it at No. 3 among the 50 most-populous cities in the study from real estate data firm Clever. The ratio compares the cost of buying a home to the cost of renting; a ratio of 15 or lower means it’s better to buy, while 21 or higher means it’s better to rent. Ratios in between 15 and 21 indicate the buy/rent decision may depend on individual circumstances, Clever said. 

Chicago has a ratio of 12, alongside Pittsburgh, New Orleans and Cleveland, making up the top four cities for buying. The top three cities for renting are San Jose, California; San Francisco; and Seattle. 

Chicago’s average monthly rent payment is $1,874, while the average monthly mortgage payment — with a 6.8% mortgage rate — is $1,828. Chicago’s average home value is $279,202, compared to the national average of $417,936.  

Looking back, Chicago’s typical home price has soared in the last seven years. In 2016, the typical monthly rent in Chicago was $1,468, while the typical home value was $188,180.