Housing costs in Chicago?
A typical home costs
$450,000, which is 33.1% more expensive than the national average of
$338,100 and 86.2% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$2,140 per month, which is 69.8% more than the national average of
$1,260 and 34.6% more than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60607), Illinois, a minimum annual income of
$86,400 for a family, and
$74,400 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60607 Chicago, IL is relatively high compared to the national average. The median home value for the area is $314,800, while the median rent for a two-bedroom apartment is $2,000. Groceries and other essentials are also expensive, particularly when it comes to organic produce. Additionally, utilities can be quite costly as well. While these costs may seem high, they are tempered by the fact that salaries in the downtown area tend to be higher than elsewhere in Illinois and the Midwest. Overall, living in 60607 can be pricey but those who can afford it will find that it is an unbeatable place to live.