Rent in Chicago
$3,095/mo · three bedrooms
Look to buy near Metra UP-NW
Palatine, IL
Purchase price ceiling for an estimated payment within 20% of city rent: $478,000
City apartment size reference: approximately 1,180 sq ft.
The Rate Update with Dan Frio
Same three bedrooms. A new location. Your decision. Compare what you pay for city rent with the estimated full monthly payment on a home near commuter rail, including property tax, insurance, HOA and mortgage insurance.
Calculate my payment ↓At a 7% mortgage rate, buying may be closer to three-bedroom city rent than you think. The numbers below are search budgets based on estimated costs. A specific home needs its own taxes, insurance, HOA and commute check.
Rent in Chicago
$3,095/mo · three bedrooms
Look to buy near Metra UP-NW
Purchase price ceiling for an estimated payment within 20% of city rent: $478,000
City apartment size reference: approximately 1,180 sq ft.
Rent in Los Angeles
$4,282/mo · three bedrooms
Look to buy near Metrolink
Purchase price ceiling for an estimated payment within 20% of city rent: $734,000
City apartment size reference: approximately 1,154 sq ft.
Rent in Denver
$2,872/mo · three bedrooms
Look to buy near RTD G Line
Purchase price ceiling for an estimated payment within 20% of city rent: $518,000
City apartment size reference: approximately 1,380 sq ft.
Rent in Austin
$2,454/mo · three bedrooms
Look to buy near CapMetro Red Line
Purchase price ceiling for an estimated payment within 20% of city rent: $402,000
City apartment size reference: approximately 1,385 sq ft.
City three-bedroom apartment rent estimates: Chicago $3,095; Los Angeles $4,282; Denver $2,872; Austin $2,454. The ceiling assumes 20% down, 30 years at 7%, plus the local tax, insurance and HOA estimates shown in the calculator. Maintenance, closing costs, utilities and commuting costs are excluded.
Make it yours
Choose a market, then replace our estimates with the numbers for a home you like. The payment includes principal, interest, property tax, insurance, HOA and, with less than 20% down, estimated mortgage insurance.
Add the trip to the station, train schedule, last mile, fares and parking. Leander’s train ride alone is around an hour.
Think about down payment, closing costs and reserves, not just the monthly bill.
Confirm assigned schools, property taxes, HOA rules and current local safety data for any home you consider.
Enter a home price, down payment, mortgage rate, loan term, property tax rate, insurance, HOA and credit score range. The calculator estimates the full monthly home payment and compares it with the rent you enter, both in dollars and as a percentage of rent. It updates as you type.
Yes. With less than 20% down, the calculator adds an estimated monthly mortgage insurance amount based on your down payment and credit score range. It is an estimate from a sample rate card, not a quote; your actual premium depends on the loan and the insurer.
Maintenance, utilities, closing costs and commuting costs are not included, so plan for them separately.
It is the highest home price whose estimated full monthly payment equals the rent you entered, using your down payment, rate, term, tax, insurance and HOA inputs. It is a search budget, not a loan approval.
Three-bedroom rent in a big city can be close to the full payment on a suburban home. Looking near a commuter rail line keeps a path to downtown, but the commute adds time and cost, so check the schedule, fares and parking for the exact station.
It starts at 7% as an example, close to the national average for a 30-year fixed loan in September 2026. Replace it with the rate you are quoted; your rate depends on credit, down payment, loan type and the day you lock.
No. They are illustrative examples built from published average rents and estimated local costs. They are not live listings, a loan quote or a loan approval.
Let’s look at your options
Tell me what you pay in rent, the payment you are comfortable with and where you need to commute. We can look at what buying might mean for you, including your monthly payment and cash needed.
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Sources:Chicago rents · LA rents · Denver rents · Austin rents · Freddie Mac mortgage rates · Metra · Metrolink · RTD · CapMetro.
Rents, rates and local costs are illustrative estimates as of . The city examples are not live listings. Verify availability, exact home size, taxes, insurance and travel time for any specific home.
Dan Frio | NMLS #246527 | PBT Bancorp | NMLS #257781
Mortgage products are originated by PBT Bancorp, NMLS #257781, 524 Main St, Hazard, KY 41701. Equal Housing Lender. This calculator is for educational purposes only and is not a loan offer, commitment to lend or rate lock. All loans are subject to credit approval, underwriting and property eligibility; terms may change without notice. NMLS Consumer Access.