Chicago, IL Cost of Living (2024): How Expensive Is It?

What salary do you need to live in Chicago, IL?

Overall, on average, a gross annual salary of $81,032 is required for an average quality of life in Chicago, IL.

Does Chicago, IL have a high cost of living?

Chicago, IL is ranked 287th out of the top 333 most populated cities in the U.S. for having the lowest cost of living. Therefore, it is considered as one of the most expensive cities in which to live in the U.S. Chicago, IL's average monthly rent is 9% higher than than the U.S. average cost of rent.

Is $75K a good salary in Chicago, IL?

A gross annual salary of $75,000 in Chicago, IL will yield an average annual net salary of $62,527. Considering that the total average annual cost of living in Chicago, IL is $58,105, a gross annual salary of $75,000 will be sufficient to cover average living costs.

How much should I pay for rent in Chicago, IL?

The average monthly rent in Chicago, IL in the city center is $2,406 for a 1 bedroom apartment, $3,104 for a 2 bedroom apartment and $4,004 for a 3 bedroom apartment. Outside the city center, the average monthly rent in is $1,409 for a 1 bedroom apartment, $1,703 for a 2 bedroom apartment and $2,100 for a 3 bedroom apartment.