Housing costs in Chicago?
A typical home costs
$446,000, which is 31.9% more expensive than the national average of
$338,100 and 84.5% more expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Chicago costs
$1,670 per month, which is 32.5% more than the national average of
$1,260 and 16.2% more than the state average of
$1,400.
Can I afford Chicago?
To live comfortably in Chicago (zip 60647), Illinois, a minimum annual income of
$85,320 for a family, and
$58,400 for a single person is recommended.
What does A.I. say about Chicago?
The cost of living in the 60647 zip code of Chicago, IL is high but still affordable. According to BestPlaces, the cost of living index in this area is 93.59, which is higher than the national average. Basic groceries, such as bread and milk, are fairly expensive at around $4 for a loaf of bread and $3 for a gallon of milk. Rent prices are also high, with an average rent for a one-bedroom apartment being about $1,100 per month. Utilities such as electricity and water are reasonably priced compared to other areas in the US. Additionally, transportation costs are relatively low due to public transportation options being available and inexpensive. Overall, while the cost of living in 60647 is higher than most places in the US, it is still an affordable place to live for those looking to settle down in Chicago.