Renting: While renting in Chicago is expensive, with an average rent of $1,826, it’s still more affordable than in many other major cities like San Francisco and New York. With an appreciation rate of only 2.20%, you might even find that this is a good time to buy a home and lock in a more affordable price. There’s also a plentiful housing supply in the city, which is helping to keep home prices lower than the national average. While this is higher than the national median sales price of $295,300, it’s still lower than the prices you’ll find in many major cities. Housing costs will likely be your largest expense, but you’ll find that the median sales price of homes in Chicago is $273,949. To help you better understand what is the cost of living in Chicago, here is a comprehensive view of where you’ll be spending your budget. When you compare it to cities like New York and San Francisco, you’ll find that it’s a more affordable option with many of the same amenities and attractions In fact, it ranks as the 11th most expensive city in the country, putting it on par with cities like Seattle, Boston, and San Diego.

Rest assured, the cost of living in Chicago is competitive with other cities of its size and offers a lot of value. With eight major league sports teams, world-class theaters, delectable food, and a beautiful waterfront, you’ll have plenty to keep you entertained in Chicago.īut what about the cost of living? You might be wondering what your budget will look like when you make this great city your home. Welcome to the Windy City, where you’ll experience an exciting blend of culture, sports, entertainment, and scenic beauty.

Sample personal budget for chicago