Housing costs in Chicago?
A typical home costs
$315,300, which is 6.7% less expensive than the national average of
$338,100 and 30.5% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,390 per month, which is 10.3% more than the national average of
$1,260 and close to the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60656), Illinois, a minimum annual income of
$60,480 for a family, and
$48,400 for a single person is recommended.
What does A.I. say about Chicago?
60656 Chicago, IL is a relatively affordable place to live. The cost of living index for 60656 Chicago, IL is 99, which is slightly lower than the average US cost of living index of 100. Although it isn't drastically lower than the national average, this can still lead to significant cost savings over time. Rent prices in the area are also quite reasonable with the median rent being $1,450 per month. Utilities are also fairly affordable in 60656, with electricity costs averaging 8.75 cents/kWh and natural gas at an average price of $1.19 per therm. This makes 60656 a great place for people looking to save money on their monthly expenses while still having access to city amenities like dining and entertainment.