Cost of Living in Chicago, IL (2026)

Chicago's cost of living is 4% above the US average. $100,000 here is worth about $96,530 nationally. Rent, homes and monthly costs.

Chicago has a cost-of-living index of 104 against a US average of 100 — about 4% above average. $100,000 of income here is worth roughly $96,530 at the national average.

What it costs to live in Chicago

MeasureChicagoUS average
Cost-of-living index104100
Median rent$1,380/mo-
Median home value$315,200-
Median household income$75,134-
Population2,707,648-

Monthly cost breakdown in Chicago

Estimates use BLS Consumer Expenditure Survey shares scaled by the local cost-of-living index. Housing uses the city’s median rent; the owning column uses a 30-year mortgage at 6.7% with 10% down on the median home.

CategoryRentingOwning
Housing$1,380$1,831
Transport$1,064$1,064
Food$837$837
Healthcare$525$525
Other$1,868$1,868
Total$5,674$6,124

Affordability in Chicago

Median rent takes about 22.0% of the median household income in Chicago — comfortably inside the 30% rule of thumb.

The median home costs 4.2x the median household income. Three times income is the traditional comfort line; five times is where affordability usually breaks down.

Highest-paying roles in Chicago

RoleTypical salaryWorth nationally
Marketing Manager$155,750$150,345
Software Developer$129,180$124,697
Data Scientist$108,580$104,812
Physical Therapist$103,270$99,686
Police Officer$102,520$98,962
Financial Analyst$102,450$98,895
Mechanical Engineer$100,200$96,723
Electrician$98,790$95,362

“Worth nationally” adjusts each salary for Chicago’s cost of living, so you can compare offers between cities on equal terms.

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Frequently asked questions

Chicago has a cost-of-living index of 104 against a US average of 100, so it is about 4% above the national average. In practical terms, $100,000 of income in Chicago has roughly the purchasing power of $96,530 at the national average.

A common benchmark is keeping rent at or under 30% of gross income. At Chicago's median rent of $1,380/month that implies about $55,200 a year before tax. The median household in Chicago earns $75,134.

Renting, a single household spends roughly $5,674 a month in Chicago across housing, transport, food, healthcare and everything else. Buying at the median home price, the estimate is about $6,124 a month including a 30-year mortgage at 6.7% with 10% down.

The median home in Chicago costs $315,200, which is 4.2x the median household income of $75,134. Lenders traditionally treat 3x as comfortable and about 5x as stretched, so Chicago is manageable but tight.