How Far Your Money Goes: Home Prices in the Western Suburbs vs. the City

If you’re looking at homes and wondering whether you get more bang for your buck in Chicago’s western suburbs or in the city, you’re not alone. The differences can be meaningful — in space, amenities, and lifestyle. Here’s how the numbers compare, and what those differences really mean when you’re house hunting.

The Numbers at a Glance

Values fluctuate based on home size, age, upgrades, lot, and school district. These are typical ranges as of mid-2025.

Not All City Homes Are Created Equal

While Chicago’s overall median home price sits around the mid-$300,000s, that number doesn’t tell the full story. In highly desirable neighborhoods like Lincoln Park, Lakeview/Wrigleyville, and the West Loop, home prices often soar well into the $700,000s and beyond. Luxury single-family homes in these areas can easily exceed $1 million, especially those near the lakefront or close to top-rated schools. So while “the city average” may sound affordable on paper, many of the most popular areas come with a much higher price tag — often rivaling or even exceeding those in the western suburbs.

What That Difference Gets You

So what’s the premium getting you in the suburbs? Here are some of the main trade-offs:

• Space & Yard — Larger lots, more square footage, basements, and bonus rooms are the suburban norm. In the city, you’ll often trade yard space for proximity.

• Schools & Quality of Life — Suburbs offer highly rated schools, quiet streets, and more green space — a major draw for families.

• Parking & Storage — Garages and driveways are standard in the suburbs and rare in the city.

• Commute & Access — City living offers walkability and transit; suburbs offer peace and privacy.

• Investment & Resale — Desirable suburban school districts hold long-term value, while trendy city neighborhoods can see faster appreciation in hot markets.

Everyday Savings Add Up

Living in the suburbs can also mean a lower overall cost of living beyond housing. You won’t need to shell out for costly monthly parking garages or city parking permits — and you can actually park in your own driveway. Many suburban areas also have lower sales and restaurant taxes compared to Chicago’s city rates, meaning everything from a dinner out to your weekly grocery run costs a bit less. Over time, those everyday savings make suburban living even more appealing — and a little easier on the wallet.

Bottom Line

A home priced around $375,000 in Chicago might get you a cozy condo or townhome, while a $550,000 home in the western suburbs could offer a spacious single-family home with a yard and garage. Ultimately, it comes down to lifestyle — whether you crave the energy of city living or the space and serenity of the suburbs, Chicagoland offers both in easy reach.