Housing costs in Chicago?
A typical home costs
$284,100, which is 16.0% less expensive than the national average of
$338,100 and 17.5% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,480 per month, which is 3.5% more than the national average of
$1,430 and 14.9% more than the state average of
$1,260.
Can I afford Chicago?
To live comfortably in Chicago, Illinois, a minimum annual income of
$54,360 for a family, and
$51,600 for a single person is recommended.
What does A.I. say about Chicago?
Living in Chicago comes with an average cost of living that is slightly higher than the US average. The median household income is $60,196 while the median home value is $261,400. Rent for a one-bedroom apartment averages around $1,200 per month in the city center but can be lower if you choose to live further away from downtown areas. Utilities such as electricity, water, gas, and internet are all relatively inexpensive while food costs tend to be similar throughout Illinois due to regional competition between grocery stores. Entertainment costs like tickets for concerts or sporting events can be expensive compared to other states but overall shopping tends to be cheaper due to the abundance of large malls in the city area.