Downtown fell 40%. The suburbs gained 45%. The gap is still widening.
Home prices have soared since the start of the Covid-19 pandemic, but a rising tide has not lifted all boats: home prices in the suburbs and exurbs have risen far faster than city cores. Of the 50 largest U.S. metros, Chicago’s 30-point urban-exurban gap is the third widest in the country (after New York City and San Francisco). The map below shows the cumulative change in home prices for each ZIP code in and around Chicago since January 2020.