Cost of living in Chicago: rent, homes and salary
The cost of living in Chicago sits 3.6% above the US average: for 2024, the regional price parity (RPP) from BEA for the Chicago, IL metro area is 103.6, the US is 100, and housing alone reaches 112.0.
- Level of prices
- 103.6US = 100, BEA 2024
- Price level for housing
- 112.0, rents, US = 100.
Cost of living index for Chicago
A regional price parity sets the cost of one basket of goods and services in one place against the US average, which is set at 100. One metro area covers Chicago: the Chicago-Naperville-Elgin, IL-IN area, which BEA prices together as one. Utilities sit furthest from the US average, coming in at 83.6, or 16.4% below the US.
| Price level, US = 100 | Chicago, IL metro | Illinois | Metro against the US |
|---|---|---|---|
| All items | 103.6 | 100.0 | +3.6% |
| Goods | 107.3 | 103.8 | +7.3% |
| Housing (rents) | 112.0 | 93.9 | +12.0% |
| Utilities | 83.6 | 85.0 | −16.4% |
| Other services | 100.5 | 100.2 | +0.5% |
The U.S. Bureau of Economic Analysis published these 2024 regional price parities for metro areas and states. BEA regional price parities
Rents in Chicago
Asking rents in Chicago typically run $2,311 a month, according to Zillow Observed Rent Index (ZORI), which tracks homes listed now and is +5.7% on a year. The US figure is $1,932. The Census puts median gross rent at $1,486. That measure counts every renting household, not only new leases. One year of the asking rent equals 34% of the median household income.
| Rent | Chicago | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $2,311 | $1,932 |
| Asking rent, 12-month change | +5.7% | |
| Median gross rent, Census ACS 2024 | $1,486 | $1,487 |
| Asking rent for a year, as a percentage of median income | 34% | 28% |
Zillow Observed Rent Index; one-year estimates from the Census Bureau American Community Survey 2024.
Chicago home prices
In September 2026, a typical home in Chicago had a value of $334,108, measured by Zillow Home Value Index (ZHVI), which tracks the value of a home typical of the mid-market. The yearly change is +5.6%, against $366,157 for the US. That price equals 4.1 years of median household income, compared with 4.5 years for the US.
| Home prices | Chicago | United States |
|---|---|---|
| Typical home value, September 2026 | $334,108 | $366,157 |
| 12-month change | +5.6% | +1.2% |
| 10-year change | +41.1% | +77.4% |
| Price to income (years of median income) | 4.1 | 4.5 |
| Price to rent (years of asking rent) | 12.0 | 15.8 |
A price chart running back to 2000, plus the forecast and the days on market: Chicago housing market.
Salary required for life in Chicago
Two questions set the salary in Chicago: where you live, and what you earn. It buys the same things your pay buys now.
- Moving from
- Salary
Every city side by side, plus the method: city cost of living comparison.
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Chicago cost of living compared with other cities
| City | Level of prices | Housing | Typical rent amount | Value of a typical home |
|---|---|---|---|---|
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
| Philadelphia | 102.6 | 113.1 | $1,757 | $231,584 |
| San Antonio | 94.7 | 94.6 | $1,381 | $244,623 |
| San Diego | 111.9 | 179.3 | $3,004 | $980,490 |
| Dallas | 103.1 | 117.9 | $1,604 | $303,442 |
For price levels, BEA regional price parities, 2024, with the US at 100. Rent comes from Zillow ZORI. Home values: Zillow ZHVI, September 2026.
A ranking of all cities compares their cost of living: city-by-city comparisons. Every state covered: cost of living by state.