Housing costs in Chicago?
A typical home costs
$223,200, which is 34.0% less expensive than the national average of
$338,100 and 7.7% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,280 per month, which is 1.6% more than the national average of
$1,260 and 9.4% cheaper than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60651), Illinois, a minimum annual income of
$42,840 for a family, and
$44,400 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60651 Chicago, IL is relatively high compared to other parts of the country. The median home value is just over $270,000 according to Zillow, and rent prices remain around $1,200 per month on average. In addition, the cost of basic goods such as food and utilities are higher than in many other parts of the country. Despite these higher costs, however, the city offers plenty of opportunities for entertainment and recreation that can help to offset some of these costs.