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Chicago, IL Cost of Living

Chicago cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexChicagoIllinoisNational
Cost of living index11399100
IndexChicagoIllinoisNational
Goods & Services index115101100
Groceries index10897100
Health care index101101100
Housing index11795100
Transportation index127105100
Utilities index9096100
A general overview of the cost of living index for Chicago, IL is displayed above. In Chicago, IL, the overall cost of living index is 113, which is 14% higher than the Illinois average and 13% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Chicago, IL, the city's goods and services are 14% higher than the Illinois average and 15% higher than the U.S. average.
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Did you know?

  • The cost of living in Chicago is 14% higher than the Illinois average.
  • The cost of living in Chicago is 13% higher than the national average.
  • The cost of housing in Chicago is 17% higher than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 69% higher than the national average.

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Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Chicago, IL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Chicago, IL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Chicago, IL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$76,476$6,373$1,784$2,295
Renters$35,017$2,918$817$1,051
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Chicago, IL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Chicago, IL has a median income of about $76,476 for people who own homes. Based on that number, a person should spend a maximum of $1,784 on expenses related to housing. Renters have a slightly different median income, which is $35,017. Based on this average, renters should spend no more than $817 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax
Illinois6.25%10.25%

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
Illinois3.75%3.75%
One thing to keep in mind when considering the cost of living in Chicago, IL is the Illinois sales tax and Illinois income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Illinois sales tax rate is 6.25% and the maximum surtax that can be charged is 10.25%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Illinois income tax rates range from 3.75% to 3.75%.

Goods & Services

ItemChicagoNational avg.Difference
Haircut $20.00$16.0924.3%
Beauty Salon $69.87$37.3387.2%
Toothpaste $2.80$2.4514.3%
Shampoo $0.98$1.001.7%
Movie $13.72$10.2833.5%
Bowling $8.00$4.9362.2%

Groceries

ItemChicagoNational avg.Difference
Ground Beef $4.33$3.8013.8%
Fried Chicken $1.28$1.408.1%
Milk $1.95$2.012.9%
Potatoes $3.79$3.0126.0%
Pizza $9.99$9.891.1%
Beer $8.49$8.904.6%

Health Care

ItemChicagoNational avg.Difference
Optometrist $95.00$102.167.0%
Doctor $100.00$108.367.7%
Dentist $102.33$92.5310.6%
Ibuprofen $9.87$9.286.4%
Lipitor $414.41$425.822.7%

Housing

ItemChicagoNational avg.Difference
Home Price $225,200.00$184,700.0021.9%
Avg. Mortgage Payment $1,785.17$1,202.4448.5%
Apartment Rent $987.00$949.004.0%

Transportation

ItemChicagoNational avg.Difference
Gasoline $2.93$2.2430.6%
Tire Balancing $55.00$46.2918.8%

Utilities

ItemChicagoNational avg.Difference
All Electricity$130.69$165.9621.3%
Phone $29.99$28.684.6%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Hodgkins, IL1,96089-11%
Hometown, IL4,34394-6%
Whiting, IN4,87098-2%
Calumet Park, IL8,32099-1%
Merrionette Park, IL1,8961000%
Chicago, IL2,714,01711313%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Houston, TX2,240,58291-9%
Philadelphia, PA1,559,9381044%
Phoenix, AZ1,555,32495-5%
Los Angeles, CA3,918,87214646%
San Antonio, TX1,439,35886-14%
Chicago, IL2,714,01711313%
Source: The Chicago, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.
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