Zip 60616 (Chicago, IL) Cost of Living


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with insight into cost of living, crime, climate, and more.
How much do I need to live in Chicago, Illinois?
$5,370 / month
for a family, 0.6% less expensive than the national average A total of $64,440 for the year for a family.
$4,233 / month
for a single person, 11.2% less expensive than the national average A total of $50,800 for the year for a single person.

Chicago cost of living score
105.7
More expensive
5.7% higher
than the US average
12.8% higher
than the Illinois average
Chicago (zip 60616), Illinois gets a BestPlaces Cost of Living score of 105.7, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 5.7% higher than the U.S. average and 12.8% higher than the average for Illinois.

Zip 60616 (Chicago, IL)

Housing costs in Chicago?
A typical home costs $336,700, which is 0.4% less expensive than the national average of $338,100 and 39.3% more expensive than the average Illinois home, at $241,700. Renting a two-bedroom unit in Chicago costs $1,460 per month, which is 15.9% more than the national average of $1,260 and 4.1% more than the state average of $1,400.

Can I afford Chicago?
To live comfortably in Chicago (zip 60616), Illinois, a minimum annual income of $64,440 for a family, and $50,800 for a single person is recommended.

What does A.I. say about Chicago?
The cost of living in 60616 Chicago, IL is quite high. According to BestPlaces's Cost of Living Index, the city has an overall index score of 92.5 which is 8% higher than the national average. When looking at individual costs, housing is the highest expense for Chicago residents; renting a one bedroom apartment in 60616 costs an average of $1,400 per month while buying a home averages around $440,000. Utilities are also expensive with a monthly cost averaging over $200 while groceries and other daily expenses can add up quickly as well. Despite the high cost of living, many people choose to live in Chicago due to its rich culture and vibrant energy.
   Cost of living score
       Higher than 100 is more expensive than the national average.
       Lower than 100 is less expensive.
     CategoriesChicagoIllinoisUnited States
    Unlock93.7100.0
  98.3  Unlock100.0
    Unlock96.9100.0
  132.2  Unlock100.0
    Unlock$241,700$338,100
  91.9  Unlock100.0
    Unlock106.2100.0
  139.7  Unlock100.0

   100=National Average

   Average Rent by Bedroom Size
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