Home/Chicago/$900,000
Family home budget

What a $900,000 family home budget means in Chicago

Only for a unicorn — and only if reserves stay above $100k post-close. Above this, the math breaks for a single-income shock.

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Budget posture

Hard ceiling

Target price

$900,000

Total monthly

See full affordability table

Salary-only stress

Covered in full sample report

Neighborhoods in reach

The best short-list neighborhoods at this budget.

Pick 1

Kenwood

The single cleanest fit. Linda's commute is shortest here, the high school is the strongest non-lottery option in CPS, the demographic mirrors the family, and budget buys actual single-family inventory. The elementary question is real — but solvable. This is #1.

Pick 2

Hyde Park

If they win the Murray magnet lottery or self-fund Lab Schools (or qualify for U Chicago faculty discount), Hyde Park jumps to #1 because the commute and walkability are unbeatable. Without that, the zoned elementary is a real unsolved problem. Tour with Murray application status in mind.

Pick 3

Beverly

The 'more house, longer commute' play. Best pick if Linda's schedule consolidates (4 days/wk in-person, OR overnight call in a hospital apartment) — the commute math then becomes acceptable. If she stays at 5/wk with rounds at 7am, it's a daily 30-min reality check. Strong #3, but only if commute logistics give.

Buying discipline

Budget rules from the sample report.

  • Maximum offer: $900k on a true unicorn; $850k on a great fit; $750k is the bullseye.
  • Keep at least $100k liquid post-close. With one kid in childcare ($2k+/mo) and another starting Pre-K, the cushion is non-negotiable.
  • Plan for the 6.4% rate we lock today — not a hypothetical refinance.
  • Cook County's effective tax rate of 2–3.5% (Hyde Park ~2.1%, Oak Park ~3.4%) is built in forever. Always model monthly with PITI, not P&I.
  • Stress-test on Linda's salary alone ($300k of HHI). If the monthly is >40% on her income, walk.
Make the math personal

A budget only matters when it is tied to your income, down payment, commute, and school priorities.

This page uses one sample family profile. A custom report recalculates affordability and neighborhood fit around your actual numbers.

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