Rent or buy? 10 cities rated

Chicago home prices have recorded steady -- but not spectacular gains -- over the years, and the median price in the metro area has reached $210,000, about a third higher than the national median.

That is down, though, about 32% from peak, making buying much more attractive now than it was during the boom. Prices are now about 23 times annual rents.

Prices would now only have to rise a little more than 4% a year for buying to be the better option, and the historical rate of increase is a bit higher than that.

NEXT: New York -- RENT