Chicago, IL Cost Of Living
Cost Of Living In Chicago, IL Summary
Cost of living in Chicago research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Chicago is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Chicago is 114, with 100 being the average.
The cost of living index in Chicago is 1.1x higher than the national average.
Chicago ranks as the #246 cheapest in Illinois out of 336.
Chicago ranks as the #4,023 cheapest out of 6,489 in the US.
The median home value in Chicago is $312,024.
The median income in Chicago is $75,134.
Table Of Contents
Chicago's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Chicago, IL?
According to the most recent data on the cost of living, Chicago has an overall cost of living index of 114, which is 1.1x higher than the national index of 100.
Compared to Illinois, Chicago has a cost of living index that's 1.2x higher than Illinois's index of 97.
The standard of living in Chicago ranks as #246 most affordable out of the 336 places we measured in Illinois. By definition, that implies Chicago ranks as the #90 most expensive place in the Prairie State.
For more reading on life in Chicago, check out:
In Illinois
In America
Chicago Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Chicago. Here is how it fairs on each of the criteria:
The Services index in Chicago is 108.
The Groceries index in Chicago is 106.
The Health index in Chicago is 109.
The Housing index in Chicago is 139.
The Transportation index in Chicago is 109.
The Utilities index in Chicago is 88.
| Living Expense | Chicago | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 114 | 97 | 100 | |
| Services | 108 | 95 | 100 | |
| Groceries | 106 | 99 | 100 | |
| Health | 109 | 93 | 100 | |
| Housing | 139 | 95 | 100 | |
| Transportation | 109 | 102 | 100 | |
| Utilities | 88 | 91 | 100 | |
Chicago, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Chicago is $312,024.
The Median Rent in Chicago is $1,380.
The Median Income in Chicago is $75,134.
The Home Value To Income in Chicago is 4.2x.
The Rent To Monthly Income in Chicago is 0.22x.
Median Home Value
Median Rent
Median Income
Chicago, IL Costs By Category
Detailed Chicago Services Costs Vs. Illinois
Detailed Chicago Groceries Costs Vs. Illinois
Detailed Chicago Health Costs Vs. Illinois
Detailed Chicago Transportation Costs Vs. Illinois
Detailed Chicago Utilities Costs Vs. Illinois
Chicago SnackAbility
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Cost Of Living In Cities Around Chicago
The cost of living varies in the cities and towns around Chicago. Here's a quick look at the cost of living in the most populous nearby places:
Cicero, IL has a cost of living index of 104, 0.9x Chicago.
Berwyn, IL has a cost of living index of 108, 0.9x Chicago.
Oak Park, IL has a cost of living index of 131, 1.1x Chicago.
| City | Population | Cost Of Living | Vs. Chicago |
|---|---|---|---|
| Cicero, IL | 83,223 | 104 | 0.9x |
| Berwyn, IL | 55,888 | 108 | 0.9x |
| Oak Park, IL | 53,315 | 131 | 1.1x |
| Glenview, IL | 47,682 | 149 | 1.3x |
| Elmhurst, IL | 45,538 | 139 | 1.2x |
| Park Ridge, IL | 39,241 | 138 | 1.2x |
| Glen Ellyn, IL | 28,270 | 135 | 1.2x |
| Wilmette, IL | 27,550 | 164 | 1.4x |
| Darien, IL | 21,855 | 121 | 1.1x |
| Hinsdale, IL | 17,155 | 191 | 1.7x |
