Quote:
Originally Posted by Sun Belt
That's not the point of my post. The point is that Chicago is one of the most affordable big cities in America, not that LA is average.
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This isn't true, though. Chicago's relative housing burden isn't particularly high or low. It doesn't appear to be "one of the most affordable big cities" by any standard.
Chicago is always referenced in this way in SSP because it has lower home prices than NYC, LA and SF. But lower home prices aren't a proxy for affordability. You have to factor in incomes, housing appreciation, rent regulation, and overall housing costs (taxes, fees). Chicago, overall, is pretty middle-of-the-road.
SF (city proper) actually has lower housing burden than Chicago (city proper), BTW. Roughly half of U.S. renters are cost burdened per the Census definition (paying more than 30% of income on rent); in SF, only 35% of renters are cost burdened.
I think what people are trying to say is "Chicago (really alongside Philly, which is slightly cheaper, and arguably more traditionally urban) is one of the few American cities with "real" urbanity that has relatively low sales prices". That is certainly true. But that's very different than "affordable" and housing cost isn't related to urbanity.