Cost of Living in Chicago, IL
Cost of Living in Chicago, IL | Compared to State Average | Compared to National Average |
---|---|---|
Housing (Buy and Rent) | 86% higher | 63% higher |
Utilities (Monthly) | 4% lower | 8% lower |
Food | 8% higher | 6% higher |
Healthcare | 1% lower | 2% lower |
Transportation | 10% higher | 17% higher |
Goods & Services | 18% higher | 15% higher |
The cost of living in Chicago, IL is 30% higher than the state average and 24% higher than the national average. Chicago, IL housing is 63% more expensive than the U.S average, while utilities are about 8% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 15% more in Chicago, IL than in the rest of the country, while clothing costs around 15% more .
Healthcare services such as doctor check-ups and dentistry cost 2% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 15% pricier in Chicago, IL.
Housing (Buy and Rent)
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Chicago is $2,206, while home prices circle around $546,238.
Utilities (Monthly)
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Chicago, energy bills cost around $130.61 per month.
Food
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $2.32 in Chicago, a dozen eggs go for around $1.60 and a pound of potatoes circles around $2.95.
Healthcare
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Chicago, an optometry check-up costs around $97.00, while a dentist appointment is priced $102.00 on average.
Transportation
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $2.76 in Chicago, while getting your tires balanced will run you about $57.00.
Goods & Services
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $33.92 here. Meanwhile, a pair of women's slacks will set you back around $35.27.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Chicago, you should budget around $14.70 a month. When it comes to personal services, a haircut usually goes for $31.78, while dry cleaning costs about $17.00.
Income
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Chicago, the median household income is $62,097.