Cost of Living in Chicago, IL
Chicago has a cost of living index of 107 (100 = national average), making it more expensive than the national average. The median household income is $65,781 and the median home price is $330,000.
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Chicago at a Glance
Population
2,665,039
Cost of Living Index
107
Median Income
$65,781
Median Home Price
$330,000
Property Tax Rate
1.69%
Sales Tax Rate
10.25%
Rent Index
120
State
Illinois
Living in Chicago
Chicago has a cost of living slightly above the national average. While housing at $330,000 is a significant expense, the area offers a balance between cost and quality of life.
The combined sales tax rate in Chicago is 10.25%, and the effective property tax rate is 1.69%. Property taxes are above the national average, which is an important consideration for homebuyers.