Is it better to rent or buy in 2026?

The decision depends on interest rates, home prices, and your timeline. Generally, buying is better if you plan to stay 5-7+ years. Use our calculator to find your specific break-even point.

What is the 5% rule for renting vs buying?

The 5% rule states that unrecoverable costs of owning are roughly 5% of the home value annually (1% property tax, 1% maintenance, 3% cost of capital). If annual rent is less than 5% of the home price, renting may be cheaper.

SmartRentOrBuy

Real Estate Agents in Chicago, IL

Find experienced buyer's and seller's agents to help you navigate the real estate market.

50 verified providers in Chicago, IL

Top Real Estate Agents in Chicago, IL

Compare ratings, reviews, and services to find the right professional for your needs.

Dallas Dyer

Chicago, IL

5.0(80 reviews)

Licensed real estate broker in Colorado.

William Janis

Chicago, IL

4.9(131 reviews)

Licensed independent real estate broker in Colorado.

Bradley (BJ) Feller

Chicago, IL

4.9(112 reviews)

Licensed real estate broker in Colorado.

Christopher Crumlish

Chicago, IL

4.9(56 reviews)

Licensed real estate broker in Colorado.

Daniel Willenborg

Chicago, IL

4.8(48 reviews)

Licensed employing real estate broker in Colorado.

Sarah Cook

Chicago, IL

4.7(65 reviews)

Licensed independent real estate broker in Colorado.

Todd Warshauer

Chicago, IL

4.7(32 reviews)

Licensed independent real estate broker in Colorado.

Philip Dobson

Chicago, IL

4.7(19 reviews)

Licensed real estate broker in Colorado.

REMEDY MEDICAL PROPERTIES INC

Chicago, IL

4.6(99 reviews)

Licensed real estate professional in IL.

MINER LISA E K

Chicago, IL

4.6(86 reviews)

Licensed real estate professional in IL.

Dean Marks

Chicago, IL

4.6(68 reviews)

Licensed employing real estate broker in Colorado.

Patrick Brady

Chicago, IL

4.5(48 reviews)

Licensed real estate broker in Colorado.

STREAM CAPITAL TRI STATE LLC

Chicago, IL

4.5(36 reviews)

Licensed real estate professional in IL.

Braden Fink

Chicago, IL

4.4(24 reviews)

Licensed real estate broker in Colorado.

Emily Sabella

Chicago, IL

4.2(80 reviews)

Licensed real estate broker in Colorado.

Kathryn (Kara) Couzens

Chicago, IL

4.2(78 reviews)

Licensed real estate broker in Colorado.

Jennica Hunt

Chicago, IL

4.1(98 reviews)

Licensed real estate broker in Colorado.

Michael Horwitz

Chicago, IL

4.1(83 reviews)

Licensed employing real estate broker in Colorado.

BLANKENSHIP LOREN S

Chicago, IL

4.1(54 reviews)

Licensed real estate professional in IL.

DUDICK JOHN A

Chicago, IL

4.0(68 reviews)

Licensed real estate professional in IL.

James Jann

Chicago, IL

4.0(32 reviews)

Licensed employing real estate broker in Colorado.

TENANTSIDE LLC

Chicago, IL

4.0(17 reviews)

Licensed real estate professional in IL.

Karin Robison

Chicago, IL

3.9(121 reviews)

Licensed employing real estate broker in Colorado.

William Ness

Chicago, IL

3.9(104 reviews)

Licensed independent real estate broker in Colorado.

Audrey Wilbur

Chicago, IL

3.9(89 reviews)

Licensed real estate broker in Colorado.

MOYLES DANA N

Chicago, IL

3.9(85 reviews)

Licensed real estate professional in IL.

Karen Elkin

Chicago, IL

3.8(42 reviews)

Licensed employing real estate broker in Colorado.

WAY TO GO TRAVEL

Chicago, IL

0.5(150 reviews)

Licensed real estate broker in Chicago, IL.

DIDO PAINTING

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

BathX

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

CORNELIO'S CONSTRUCTION

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

Window Place Corp

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

MAXIM ELECTRIC CONSTRUCTION, INC.

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

1600 DIVISION, LLC

Chicago, IL

0.5(150 reviews)

Licensed residential real estate developer in Chicago, IL.

HANDICO INC

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

MR. MAINTENANCE CONST. AND HEATING COMP.

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

HUNSICKER ELECTRICAL SERVICE

Chicago, IL

0.5(150 reviews)

Licensed home repair contractor in Chicago, IL.

NA0MI & SYLVESTER SMITH SENIOR LIVING CENTER

Chicago, IL

0.5(150 reviews)

Licensed residential real estate developer in Chicago, IL.

Around The World Travels & Tours Inc.

Chicago, IL

0.5(149 reviews)

Licensed real estate broker in Chicago, IL.

INTERSTATE MECHANICAL & CONSTRUCTION

Chicago, IL

0.5(149 reviews)

Licensed home repair contractor in Chicago, IL.

GOLDLEAF PAINTING AND DESIGN LLC

Chicago, IL

0.5(149 reviews)

Licensed home repair contractor in Chicago, IL.

LUNA'S ROOFING SERVICE, P.C.

Chicago, IL

0.5(149 reviews)

Licensed home repair contractor in Chicago, IL.

HARPER COURT PARTNERS

Chicago, IL

0.5(149 reviews)

Licensed residential real estate developer in Chicago, IL.

P R S CONSTRUCTION

Chicago, IL

0.5(149 reviews)

Licensed home repair contractor in Chicago, IL.

MILLENNIUM PARK PLAZA, LLC

Chicago, IL

0.5(149 reviews)

Licensed residential real estate developer in Chicago, IL.

Middlefork Capital LLC

Chicago, IL

0.5(149 reviews)

Licensed residential real estate developer in Chicago, IL.

ARMAN MECHANICAL

Chicago, IL

0.5(149 reviews)

Licensed home repair contractor in Chicago, IL.

T K D INC.

Chicago, IL

0.5(149 reviews)

Licensed home repair contractor in Chicago, IL.

DOMINICK'S #68/1068

Chicago, IL

0.5(149 reviews)

Licensed real estate broker in Chicago, IL.

ST BERNARD-PBI HOUSNG

Chicago, IL

0.5(149 reviews)

Licensed residential real estate developer in Chicago, IL.

Not Sure If You Should Rent or Buy in Chicago, IL?

Use our advanced calculator to analyze the true costs and see which option makes more financial sense for your situation.

View Chicago, IL Market Analysis