Cost of Living in Chicago, IL
Chicago's cost of living index is 107 — making it 6.5% more expensive than the US national average. To maintain your current standard of living here, you would need to earn $107,000 for every $100,000 of national-average income.
The Chicago Tax & Cost Impact
Chicago offers a balanced tax profile. While Illinois does have an income tax, it remains competitive compared to coastal hubs, especially when adjusted for local housing costs.
Decision Matrix
- ✓Housing: Housing is a value-play compared to national tiers.
- ✓Savings Rate: To save $2,000/mo here, you need a gross household income of ~$89,880.
COL Index
107
100 = national avg
Monthly Budget
$5,350
vs $5,000 national
Population
2.7M
Metro area
State Tax
Yes
Illinois
Monthly Cost Breakdown
Estimated monthly costs in Chicago vs national average for a typical household.
| Category | National Avg | Chicago | Difference |
|---|---|---|---|
| Housing | $1,650 | $1,823 | +$173 |
| Groceries | $650 | $686 | +$36 |
| Transportation | $800 | $850 | +$50 |
| Healthcare | $400 | $420 | +$20 |
| Utilities | $300 | $321 | +$21 |
| Other | $1,200 | $1,267 | +$67 |
| Total | $5,000 | $5,350 | +$350 |
Salary Equivalent
To maintain the same standard of living in Chicago, a national-average salary translates to:
$50,000 nationally
$53,500
$75,000 nationally
$80,250
$100,000 nationally
$107,000
$150,000 nationally
$160,500
What Your Salary Gets You in Chicago
Here's how different salary levels translate to monthly purchasing power in Chicago, IL, where the cost of living is 7% above the national average.
Cities With Similar Cost of Living
FAQ: Cost of Living in Chicago
Is Chicago expensive to live in?
Chicago's cost of living index is 107, which is slightly above the national average of 100. Housing is typically the biggest factor, with estimated monthly rent around $1,766.
What salary do I need to live comfortably in Chicago?
To maintain a middle-class lifestyle in Chicago, you'd need approximately $80,250 per year, which is equivalent to a $75,000 salary at the national average cost of living.
How does Chicago compare to other cities?
Chicago is comparable in cost to Fresno, Nashville, Baltimore. More affordable alternatives include Houston, Milwaukee, Tucson.