Markets & Economy

Are homes in Illinois becoming too expensive?

Chicago isn't home to the most expensive homes-- just go north

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

American consumers might have reason to believe that the recovering economy is keeping costs down. After all, gas prices have recently hit lows we haven’t seen in years. A strong dollar has made purchases more affordable. And, national unemployment dipped to 5.1 percent earlier this year. But when it comes to things like buying a home, Americans might be startled at how quickly prices have rebounded in many places following the economic recession. Prices haven’t increased uniformly; some areas still have relatively affordable home prices, while others have homes with prices that seem to rise exponentially each year. Using data from their real estate market trends topic, our data experts at FindTheHome identified the most expensive states to buy a home based on the median home sale price in each state. These statistics are sourced from public county records and reflect the median price of all home sales recorded in July 2015. Illinois stood as the 35th-most expensi...