There's a new report out that puts a number on what a typical buyer must make to afford a home in Chicago: $54,346.
The study, from HSH.com, assumes a 20 percent down payment and puts the median sale price of a home in the city at about $195,000 - that translates into a monthly payment of $1,286. That's principal and interest only, there's still taxes of course.
The study ranks Chicago as the 12th most expensive market in the country and illuminates what a bargain the city is when compared to its cultural and civic offerings as compared with markets such as New York and the West Coast.
For the report, visit HSH.com here and for a summary from DNAinfo Chicago head here.
