The graph below shows the average cost of housing in three different areas in Chicago.

Dec 13, 2021 / Academic / 6:24 pm

Variations in the average cost of accommodation in three different areas between 1990 and 2020 in Chicago are portrayed in the given bar chart.

Overall, it is clear that housing expense in the rural areas was less costly than housing in both urban and suburban areas.

As per the chart, in 1990, the most expensive housing was in the urban centres in Chicago. This accounted for $150000, which was double the cost of living in rural areas and $50000 more than the living in suburbs. The next two decades saw a fall in the cost of accommodation in all three locations. In case of urban areas, it fell between $30,000 and $50,000, whereas in rural areas it was between $15,000 and $25,000. The suburban housing expense saw a decline only in 2010, and that was by$20,000.

A significant revival occurred in the cost of average housing in both urban and suburban areas in 2020. When the cost in the urban areas in Chicago rocketed to $180000 from $100000, the suburban cost too went up significantly from $80,000 to $120000. The cost of housing in the rural areas had not recorded a giant leap, but it could rise to $65,000.

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