The Chicago-Naperville-Elgin, IL Metro Area is an affordable place to live with rent for a two bedroom being around $1,400. Grocery costs are slightly lower than the US average, at 97 index points rather than 100. This makes it an attractive choice for those looking to save money while living in one of the region's biggest cities. The area is home to iconic national companies like McDonald's and Allstate as well as local favorites such as Portillo's and Lou Malnati's Pizzeria. Overall, the cost of living in this metro area is relatively low compared to other large American cities.
Chicago-Naperville-Elgin Metro Area has an unemployment rate of 7.5%. The US average is 6.0%.
Chicago-Naperville-Elgin Metro Area has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 27.3%, which is lower than the US average of 33.5%.
Tax Rates for Chicago-Naperville-Elgin Metro Area
- The Sales Tax Rate for Chicago-Naperville-Elgin Metro Area is 8.9%. The US average is 7.3%.
- The Income Tax Rate for Chicago-Naperville-Elgin Metro Area is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Chicago-Naperville-Elgin Metro Area
- The average income of a Chicago-Naperville-Elgin Metro Area resident is $31,488 a year. The US average is $28,555 a year.
- The Median household income of a Chicago-Naperville-Elgin Metro Area resident is $78,790 a year. The US average is $69,021 a year.