salaryChicago is the largest city in Illinois that we track, with 2,707,648 residents. Rent is higher than in 63% of U.S. cities. A typical house costs about 4.2 years of household income. Commutes are long, about 33.5 minutes each way.
How much money do I need?
To rent here comfortably, you should earn about $68,000 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 257 of 334 cities from cheapest to most expensive.
Compare Chicago with other big cities
Compare Chicago to 149 other cities →
How much do households earn in Chicago?
Share of households by yearly income. 29.0% of households earn $100,000 or more.
Rent by apartment size in Chicago
| Size | Chicago | U.S. average |
|---|---|---|
| Studio | $1,186 | $1,185 |
| 1 bedroom | $1,258 | $1,180 |
| 2 bedrooms | $1,406 | $1,338 |
| 3 bedrooms | $1,554 | $1,500 |
| 4 bedrooms | $1,728 | $1,861 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Chicago overall?
Everyday prices in the Chicago-Naperville-Elgin metro area are 4% above the U.S. average (index 103.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Chicago
Life in Chicago
What jobs pay in Chicago
| Job | Median pay | Rent / pay |
|---|---|---|
| Lawyer | $166,090 | 12.3% |
| Pharmacist | $137,610 | 14.8% |
| Nurse Practitioner | $131,690 | 15.5% |
| Software Developer | $130,030 | 15.7% |
| Physician Assistant | $122,990 | 16.6% |
| Police Officer | $108,890 | 18.7% |
| Operations Manager | $105,310 | 19.4% |
| Civil Engineer | $100,280 | 20.3% |
| Electrician | $99,540 | 20.5% |
| Computer Systems Analyst | $99,510 | 20.5% |
| Plumber | $98,890 | 20.6% |
| Dental Hygienist | $98,030 | 20.8% |
| Registered Nurse | $96,480 | 21.1% |
| Firefighter | $88,290 | 23.1% |
| Accountant | $81,210 | 25.1% |
| Carpenter | $76,510 | 26.7% |
| Market Research Analyst | $76,380 | 26.7% |
| Elementary School Teacher | $75,020 | 27.2% |
| HVAC Technician | $74,400 | 27.4% |
| Licensed Practical Nurse | $72,920 | 28.0% |
| Truck Driver | $62,430 | 32.7% |
| Medical Assistant | $46,740 | 43.6% |
| Nursing Assistant | $46,050 | 44.3% |
| Customer Service Representative | $45,820 | 44.5% |
| Warehouse Worker | $40,030 | 51.0% |
| Restaurant Cook | $37,090 | 55.0% |
| Retail Salesperson | $34,910 | 58.4% |
| Cashier | $33,680 | 60.6% |
| Server (Waiter/Waitress) | $29,120 | 70.1% |
Is it cheaper to rent or buy in Chicago?
Renting is cheaper right now: about $487 a month less.
Owning assumes a typical $315,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $31,520 for the down payment.
Frequently asked questions
What is the average rent in Chicago, IL?
People who moved into a rental in Chicago since 2021 pay a median of $1,700 a month, including utilities. The Illinois median is $1,309.
How much do I need to make to live in Chicago?
To keep rent under 30% of income, you need about $68,000 a year, or $33 an hour at a full-time job.
Is Chicago cheap or expensive?
Chicago is rated OK: rent takes 27.2% of the typical household income of $75,134. It ranks 257th cheapest of 334 Illinois cities we track.
How much are property taxes in Chicago?
The median homeowner in Chicago pays $4,814 a year in property taxes, about 1.53% of the median home value.
Is Chicago more expensive than the national average?
Overall prices in the metro area are 4% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Chicago?
The median home value in Chicago is $315,200, about 4.2 times the typical yearly household income.
2,707,648 people live in Chicago. Numbers are typical (middle) values.