CostByCity

Cost of Living in Chicago, IL

2024 data from the Bureau of Economic Analysis

Cost Index
103.6
3.6% above avg
Housing Index
112.0
Median Income
$85,087
Median Rent
$1,310/mo

Cost Breakdown

Overall103.6 (+3.6%)
Housing112.0 (+12.0%)
Goods107.3 (+7.3%)
Utilities83.6 (-16.4%)
Other Services100.5 (+0.5%)

National average = 100

Income & Housing

Median Household Income
$85,087/year
Median Home Value
$288,400
Median Monthly Rent
$1,310/mo
Per Capita Income
$45,977/year

Compare Chicago, IL With

Chicago, IL vs Bend, ORChicago, IL vs Salem, ORChicago, IL vs Olympia, WAChicago, IL vs Wenatchee, WAChicago, IL vs Bellingham, WAChicago, IL vs Ithaca, NYChicago, IL vs Phoenix, AZChicago, IL vs Fairbanks, AKChicago, IL vs Naples, FLChicago, IL vs Trenton, NJ

Frequently Asked Questions

Is Chicago, IL expensive to live in?
Chicago, IL has a cost of living index of 103.6, which is 3.6% above the national average.
How much does housing cost in Chicago, IL?
Housing costs in Chicago, IL are indexed at 112.0 compared to the national average of 100. The median monthly rent is $1,310.
What is the average income in Chicago, IL?
The median household income in Chicago, IL is $85,087 per year.
What is the average home price in Chicago, IL?
The median home value in Chicago, IL is $288,400.