Cost of Living in Chicago, IL
Population 2,707,648 · Illinois · Data vintage 2023
(100 = US avg)
A 37-minute average commute puts Chicago squarely in exurban territory — the kind of place where many households optimize for housing cost over proximity to work. Home values of $315,000 reflect that spatial discount. At 7.9%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Chicago
The median home value in Chicago is $315,200 — 3% above the national median of $305,000. Median rent runs $1,380/month, 5% higher than the national median of $1,314/month. The median household income of $75,134/year is 1% higher than the US median of $74,580. The local unemployment rate is 7.9%, above the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. The climate averages highs of 60.3°F and lows of 44.1°F. Overall, Chicago has a cost of living index of 104 versus the US average of 100, meaning it is 4% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 33 | 37 | 48 | 60 | 71 | 81 | 85 | 83 | 76 | 63 | 49 | 38 |
| Low °F | 19 | 23 | 32 | 41 | 52 | 62 | 68 | 66 | 59 | 47 | 35 | 25 |
| Precip" | 1.48 | 1.46 | 1.88 | 3.57 | 4.09 | 4.01 | 3.55 | 3.99 | 2.77 | 3.48 | 2.35 | 1.79 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Chicago, IL?
Chicago has a cost index of 104 (100 = national average). It is 4% above the national average.
What is average rent in Chicago, IL?
The median gross rent in Chicago is $1,380 per month based on 2023 Census data.
What is the average home price in Chicago?
The median home value in Chicago is $315,200 according to Zillow and Census data.
What is the median income in Chicago?
The median household income in Chicago is $75,134 per year (2023 ACS 5-year estimates).
What is the sales tax in Chicago, IL?
The combined state and local sales tax rate in Chicago is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Chicago, IL affordable?
Chicago is near the national average in terms of cost of living, with an index of 104 (100 = US average).
What is the weather like in Chicago?
Chicago has average high temperatures of 60.3°F and average lows of 44.1°F. Annual precipitation is 34.4". Data from NOAA 1991–2020 Climate Normals.
Chicago at a Glance
- Population
- 2,707,648
- Median Income
- $75,134
- Home Value
- $315,200
- Median Rent
- $1,380/mo
- Unemployment
- 7.9%
- Avg High Temp
- 60.3°F
- Sales Tax
- 8.7%
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