Housing costs in Chicago?
A typical home costs
$528,000, which is 56.2% more expensive than the national average of
$338,100 and 118.5% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$2,130 per month, which is 69.0% more than the national average of
$1,260 and 34.3% more than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60601), Illinois, a minimum annual income of
$101,160 for a family, and
$74,000 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60601 Chicago, IL is quite high. According to BestPlaces’s Cost of Living Index, the cost of living in this area is 68% higher than the national average. Rent for a one-bedroom apartment can range from $1,500 - $2,000 per month while utilities can easily cost around $200 each month. Groceries also come at a high price with basic items like milk and eggs costing up to twice the amount as compared to other parts of the country. Eating out and entertainment activities are also expensive in this area which makes it difficult for people on fixed incomes or smaller budgets to live comfortably in 60601 Chicago, IL.