Housing costs in Chicago?
A typical home costs
$118,300, which is 65.0% less expensive than the national average of
$338,100 and 51.1% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,060 per month, which is 15.9% cheaper than the national average of
$1,260 and 32.1% cheaper than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60636), Illinois, a minimum annual income of
$22,680 for a family, and
$36,800 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in 60636 Chicago, IL is quite high. According to the most recent data from the Bureau of Labor Statistics, the median household income in the area is around $64,722, while the median home value is almost $616,400. This makes Chicago among one of the most expensive cities to live in across the United States. With a housing market that is highly competitive and rising rental costs due to limited availability, it can be difficult for individuals or families on a budget to find affordable living arrangements. Additionally, the cost of groceries and other everyday items are pricey compared to other parts of the country.