Housing costs in Chicago?
A typical home costs
$185,200, which is 45.2% less expensive than the national average of
$338,100 and 23.4% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,060 per month, which is 15.9% cheaper than the national average of
$1,260 and 32.1% cheaper than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60623), Illinois, a minimum annual income of
$35,640 for a family, and
$36,800 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60623 Chicago, IL is relatively high compared to other areas in the United States. The median home value in this zip code is $250,700, which is more than double the national average. Additionally, rent prices in the area are also higher than average; the median two-bedroom apartment rents for approximately $1,550 per month. Groceries and other necessities also tend to be quite expensive, making it difficult for lower-income individuals to live in the area. However, due to its close proximity to downtown Chicago and countless attractions like Navy Pier and Lincoln Park Zoo, many people are willing to pay a premium for the convenience of living in 60623.