Should You Rent or Buy?

If you’ve been on the fence between buying or renting a home, your decision may have already been made for you. NerdWallet recently ranked all cities in Illinois with a population above 5,000 as to whether it’s better to buy a home or to rent.

NerdWallet looked at how long it would take to make a down payment, the difference in cost between renting and buying and how many years of rent would equal out to owning a home to make its decision.

To find your city, click here and scroll down until you see the “Should I rent vs. buy in Illinois?” box near the bottom of the page. You can scroll through this box to find your city. If the number in the last column on the right is above 50, you should buy. If it’s below 50, you should rent.