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As mortgage rates hover around 6 percent and home prices remain elevated, the rent-versus-buy debate in 2026 is anything but straightforward. A new analysis from Empower, pulling data from American Home Shield and Zillow, finds that the answer increasingly comes down to location.
Across the 50 largest U.S. metros, renting is still cheaper in 27, but buying now has the edge in 23. Topping the latter list is Chicago, where relatively balanced home prices and rental rates tip the scales in favor of ownership. Across these top 10 metros, the monthly cost of owning, including mortgage, taxes, and insurance, is now lower than renting a comparable home.
- Chicago, IL
- Miami, FL
- Pittsburgh, PA
- New Orleans, LA
- Tampa, FL
- Memphis, TN
- Cleveland, OH
- Detroit, MI
- Oklahoma City, OK
- Birmingham, AL
Below, four Chicago home tours offer a glimpse of what that can look like, each with its own distinct personality.
The Tailored Treasure
Designer Jennifer Sucher approached this Chicago home like a perfectly styled outfit: layered, expressive, and full of vintage finds. Sourced from local gems like South Loop Loft and Design at 329, the interiors are rich with personality, from decorative plate walls to a stained-glass pantry door and Tetris-like terracotta kitchen tiles.
The Preserved Practice
Gallerist Emanuel Aguilar’s apartment in a classic Chicago two-flat leans into its past life as a 1920s medical practice. The “renovation” was minimal–just crisp coats of Benjamin Moore’s Super White and black trim–but the original doctor’s office placards remain on the doors. Guests are still directed to the “X-ray Room,” while the basement ominously reads “Laboratory.” Vintage finds from local dealers like CircaModern and Scout round out the space, blending gallery-like restraint with a sense of humor about its past life.
The Light-Filled Loftlet
When design blogger Kate Pearce relocated from New York to Chicago, her daughter Eva’s cabin bed came, too. It’s a longtime RH Baby & Child find that Eva had slept in since she was 2, complete with board-and-batten siding, a slatted roof, and roll-up canvas windows. Set against floral wallpaper that the little one helped pick, the room’s built-in charm (think reading nooks, oversized windows, and a defunct fireplace now filled with plush “logs”) does most of the heavy lifting in the cozy window-wrapped retreat.
The Cool Blue Comeback
With crown moldings, a sunken living room, and a natural Art Deco flair, Sebastian Brauer’s 1929 North Shore cottage already had the bones. Instead of a full renovation, he leaned into restoration (he splurged on paint), layering in a color palette inspired by Picasso’s Blue Period to amplify its old Hollywood elegance.