Housing costs in Chicago?
A typical home costs
$274,900, which is 18.7% less expensive than the national average of
$338,100 and 13.7% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,270 per month, which is 0.8% more than the national average of
$1,260 and 10.2% cheaper than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60638), Illinois, a minimum annual income of
$52,560 for a family, and
$44,400 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60638 Chicago, IL is significantly higher than the national average. According to BestPlaces, the cost of living index for this area is 127.2, which is 27% higher than the US average. This means that basic necessities like groceries and transportation are more expensive here than other places in the United States. Additionally, housing costs are very high in this area, with the median home price being around $350,000. Although there are some areas within 60638 where prices are slightly lower, overall it is an expensive place to live.