Housing costs in Chicago?
A typical home costs
$296,600, which is 12.3% less expensive than the national average of
$338,100 and 22.7% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,580 per month, which is 25.4% more than the national average of
$1,260 and 11.4% more than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60612), Illinois, a minimum annual income of
$56,880 for a family, and
$54,800 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60612 Chicago, IL is fairly high compared to other areas in the United States. The median household income is around $95,000, while the median home value is approximately $425,000. Renters can expect to pay anywhere from $800-$1,500 or more in rent for a one-bedroom apartment. Groceries and other essential items tend to be more expensive than in many areas of the country as well. Transportation costs can also be a burden due to the city's public transportation system being heavily reliant on buses and trains with fares ranging from $2.50 - 5 depending on your destination. All of these factors point to a higher cost of living overall when compared to other parts of the country.