Cost Of Living For a Couple in Chicago 2025

Couple cost of living chart - average monthly expenditure in Chicago

Average Monthly Expenditure

Currency: USD
2,600 7,700 41,000
MINIMUM AVERAGE MAXIMUM

Average monthly spending for couples in Chicago

How much money does a couple need in a month to survive in Chicago?

Couples in Chicago spend around 7,700 USD per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 2,600 USD or as high as 41,000 USD. Location and income are very important factors and have a huge influence on expenditure and budget.


Prices and cost of goods and services in Chicago


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Chicago

Dining, food, and beverages costs


Fast food combo meal

6.3 USD 13 USD 21 USD
MINIMUM AVERAGE MAXIMUM

Restaurant meal for one

23 USD 34 USD 68 USD
MINIMUM AVERAGE MAXIMUM

Fine dining meal for one

45 USD 68 USD 270 USD
MINIMUM AVERAGE MAXIMUM

Cappuccino or latte

5.2 USD 8.4 USD 13 USD
MINIMUM AVERAGE MAXIMUM

Grocery and market costs


Milk large bottle

4.2 USD 5 USD 6.3 USD
MINIMUM AVERAGE MAXIMUM

12 eggs

3.1 USD 4.2 USD 6.3 USD
MINIMUM AVERAGE MAXIMUM

Fresh whole chicken

7.1 USD 9.2 USD 13 USD
MINIMUM AVERAGE MAXIMUM

Pack of beef

8.4 USD 13 USD 25 USD
MINIMUM AVERAGE MAXIMUM

Medium bag of rice

3.4 USD 4.6 USD 6.5 USD
MINIMUM AVERAGE MAXIMUM

Bag of tomatos

1.3 USD 1.7 USD 3.1 USD
MINIMUM AVERAGE MAXIMUM

Bag of apples

2.2 USD 2.9 USD 4.8 USD
MINIMUM AVERAGE MAXIMUM
Chart showing the prices and cost of commute, travel, and transportation in Chicago


Commute, travel, and transportation costs


20 minutes taxi ride

5.7 USD 6.8 USD 14 USD
MINIMUM AVERAGE MAXIMUM

Average car full tank

31 USD 42 USD 84 USD
MINIMUM AVERAGE MAXIMUM

Average car 1-day rental

37 USD 49 USD 74 USD
MINIMUM AVERAGE MAXIMUM

Average car price

16,000 USD 31,000 USD 42,000 USD
MINIMUM AVERAGE MAXIMUM

Bus ticket one way

1.2 USD 1.8 USD 3.7 USD
MINIMUM AVERAGE MAXIMUM

Car Service

49 USD 74 USD 150 USD
MINIMUM AVERAGE MAXIMUM
Chart showing the prices and cost of utility, energy, water, and gas in Chicago


Utility cost (monthly)


Utility Bill - Couple

100 USD 350 USD 2,300 USD
MINIMUM AVERAGE MAXIMUM

Internet and cable

31 USD 63 USD 84 USD
MINIMUM AVERAGE MAXIMUM

Mobile phone charges

25 USD 42 USD 130 USD
MINIMUM AVERAGE MAXIMUM

Leisure and activities costs


Movie ticket

16 USD 21 USD 31 USD
MINIMUM AVERAGE MAXIMUM

One month gym membership

59 USD 74 USD 150 USD
MINIMUM AVERAGE MAXIMUM
Chart showing the prices and cost of clothing and accessories in Chicago


Cloths and accessories costs


Pair of jeans or pants

43 USD 61 USD 92 USD
MINIMUM AVERAGE MAXIMUM

Woman dress

41 USD 57 USD 180 USD
MINIMUM AVERAGE MAXIMUM

Woman shoes

39 USD 53 USD 120 USD
MINIMUM AVERAGE MAXIMUM

Men's shoes

33 USD 41 USD 82 USD
MINIMUM AVERAGE MAXIMUM

Men suit

37 USD 46 USD 250 USD
MINIMUM AVERAGE MAXIMUM

Regular t-shirt

18 USD 25 USD 74 USD
MINIMUM AVERAGE MAXIMUM
Chart showing the prices and cost of housing, accommodation, and rent in Chicago


Housing costs / monthly rent


Studio apartment

610 USD 920 USD 2,500 USD
MINIMUM AVERAGE MAXIMUM

1-bedroom apartment

920 USD 1,500 USD 3,700 USD
MINIMUM AVERAGE MAXIMUM

2-bedroom apartment

1,200 USD 1,800 USD 4,900 USD
MINIMUM AVERAGE MAXIMUM

Housing costs / Buying


Studio apartment

120,000 USD 180,000 USD 370,000 USD
MINIMUM AVERAGE MAXIMUM

1-bedroom apartment

150,000 USD 250,000 USD 920,000 USD
MINIMUM AVERAGE MAXIMUM

2-bedroom apartment

250,000 USD 740,000 USD 1.5M USD
MINIMUM AVERAGE MAXIMUM
Chart showing the prices and cost of furniture in Chicago


Furniture Costs


King Size Bed

630 USD 780 USD 1,000 USD
MINIMUM AVERAGE MAXIMUM

Double Bed

420 USD 630 USD 780 USD
MINIMUM AVERAGE MAXIMUM

Single Bed

370 USD 480 USD 630 USD
MINIMUM AVERAGE MAXIMUM

Living Room

700 USD 900 USD 3,100 USD
MINIMUM AVERAGE MAXIMUM

Dining Table

310 USD 420 USD 780 USD
MINIMUM AVERAGE MAXIMUM

Sofa or Couch

420 USD 570 USD 1,300 USD
MINIMUM AVERAGE MAXIMUM
Chart showing the prices and cost of electronic devices and appliances in Chicago


Electronics and House Appliance Costs


TV Set

420 USD 630 USD 1,300 USD
MINIMUM AVERAGE MAXIMUM

Fridge or Freezer

370 USD 570 USD 780 USD
MINIMUM AVERAGE MAXIMUM

Washing Machine

480 USD 700 USD 1,300 USD
MINIMUM AVERAGE MAXIMUM

Stove or Cooker

450 USD 570 USD 780 USD
MINIMUM AVERAGE MAXIMUM

Mobile Phone

520 USD 630 USD 900 USD
MINIMUM AVERAGE MAXIMUM

Laptop or Computer

570 USD 700 USD 1,300 USD
MINIMUM AVERAGE MAXIMUM
Couple cost of living and expenditure to income ratio in Chicago

Couple expenditure to income ratio in Chicago

Analysing the how affordable it is for couples to live in Chicago

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.


Spending to Income Ratio

93%

83% to 100%

( expenditure / income ) x 100


Couples in Chicago spend around 93% of their monthly income. Some couples spend as low as 83% of their income while some as high as 100%.

Distribution of monthly cost of living expenses of a couple in Chicago

How do couples spend their money in Chicago?

We asked thousands of couples about their spending habits and expenditure break down.


The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing and accomodation expenditure for couples

Accomodation Cost31%

31% of total expenses on average (24% to 41%)

LOW880 USD
AVERAGE2,600 USD
HIGH14,000 USD
Per Month

Couples in Chicago typically spend from 24% to 41% of their total monthly expenditure on housing with 31% being the average. The average monthly spend on housing is 2,600 USD with expenditure ranging from 880 USD to 14,000 USD. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Cost of utilities6%

6% of total expenses on average (4% to 10%)

LOW100 USD
AVERAGE350 USD
HIGH2,300 USD
Per Month

Utility expenditure like electricity, water, and gas in Chicago ranges from 4% to 10% of total expenses with 6% being the average for most couples. The average monthly cost of utilities is 350 USD with 100 USD and 2,300 USD being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Cost of transport and fuel11%

11% of total expenses on average (5% to 16%)

LOW310 USD
AVERAGE930 USD
HIGH5,000 USD
Per Month

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 310 USD to 5,000 USD in a month on commuting with 930 USD being the norm for most couples. This means that money spent on transport constitutes about 11% of total spending on average but can go as low as 5% or as high as 16%.

Food, groceries, and basic shopping expenditure for couples

Food and Groceries Cost15%

15% of total expenses on average (10% to 20%)

LOW360 USD
AVERAGE1,100 USD
HIGH5,800 USD
Per Month

The average outlay on groceries and basic houshold items for a typical couple in a month in Chicago is 1,100 USD. The cost of groceries can range between 360 USD to 5,800 USD. Couples spend on average about 15% on food and groceries with upper and lower bounds of 10% and 20% respectively.

Healthcare and medical services expenditure for couples

Cost of healthcare12%

12% of total expenses on average (6% to 16%)

LOW280 USD
AVERAGE850 USD
HIGH4,500 USD
Per Month

Couples in Chicago allocate 6% to 16% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 12%. The range of medical expenses range from 280 USD to 4,500 USD with 850 USD being the norm for most couples.

Leisure and shopping expenditure for couples

Cost of leisure and shopping5%

5% of total expenses on average (2% to 8%)

LOW150 USD
AVERAGE460 USD
HIGH2,500 USD
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 150 USD to 2,500 USD with 460 USD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 5% for most couples.

Education and schooling expenditure for couples

Cost of education and schooling2%

2% of total expenses on average (1% to 4%)

LOW52 USD
AVERAGE150 USD
HIGH830 USD
Per Month

Spending on education can vary drastically between different couples. On average, education constitutes 2% of the monthly expenditure of couples with 1% and 4% being the lower and upper bounds respectively. The average reported education cost is 150 USD per month with 52 USD being the minimum spent amount and 830 USD being the maximum.

Other Expenses18%

18% of total expenses on average (12% to 24%)

LOW440 USD
AVERAGE1,300 USD
HIGH7,000 USD
Per Month
Percentage of couples who manage to save money from their income every month in Chicago

What percentage of couples in Chicago are able to save money and how much can they save?


Percentage of couples that reported their ability to save money


Saving Money
86%
Not Saving
14%

Almost 86% of surveyed couples in Chicago said that they can save some money at the end of each month while 14% reported that they have to utilize their whole income to survive.


Couple savings to income ratio in Chicago

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


How much money do couples manage to add to their savings?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.

Saving to Income Ratio

18% 32% of income 43%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

1,100 USD 3,300 USD 18,000 USD
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%31%
10% - 20%23%
20% - 30%18%
30% - 40%13%
40% - 50%11%
> 50%4%

Interpretation and Analysis

Couples that are able to save money can put anywhere from 18% to 43% of their monthly income to their savings, with 32% being the average for most couples. The average monthly amount of money that couples can put aside is 3,300 USD with 1,100 USD and 18,000 USD being the minimum and maximum respectively.

Reasons that make it difficult for couples to save money in Chicago

Saving Challenges in Chicago

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Chicago. Listed below are the answers given by the survey participants.


Reason% People
Low Income7%
High Expenses10%
Debt and Loans20%
Lack of Budgeting Skills10%
Impulsive Spending8%
Financial Emergencies6%
Living the moment7%
Will do it later15%
Inflation9%
Social Pressure4%
Market Instability3%

Around 7% of the couples said that their salary is too low to accommodate a portion for savings while 10% said that the high cost of living leaves little room for savings. 20% of the residents said that they are burdened with debt and find it challenging to save money. 10% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 8% of couples blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 15% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 9% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 4% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Where do couples choose to put their savings in Chicago

Typical saving choices for couples in Chicago

Where do people choose to put their savings?


Saving Type% People
Emergency Funds10%
Gold9%
Savings Accounts18%
Retirement Accounts12%
Cash Savings14%
Real Estate10%
Investment6%
Stocks7%
Bonds7%
Mutual Funds3%
Certificates of Deposit4%
A typical and healthy budgeting structure. The 50-30-20 rule

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Income and cost of living compatibility. Is it affordable or economical for couples to live in Chicago

Affordable living in Chicago

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Chicago?


Yes
100%
No
-0.50%

Around 100% of surveyed couples think that living in Chicago is affordable with proper budgeting while -0.50% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting for couples. Are there plenty of low-cost options in Chicago

Low-cost alternatives in Chicago

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked couples how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options77%

Few low-cost options23%


Based on the survey, 77% of the couples living in Chicago have no problem finding low-cost alternatives to support a frugal lifestyle while 23% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Couples

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked couples of Chicago whether they have an emergency fund and the answers were as follows.

Yes98%

No2%


Based on the survey, 2% of the couples living in Chicago said that they don't have an emergency fund while 98% said that they do.

Financial literacy and difficulty in budgeting and financial planning for couples in Chicago

Financial Literacy in United States

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy77%


We asked couple guardians and parents in Chicago whether they acquired any adequate personal financial training in their lives. Approximately 23% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 77% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether couples of United States have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 19% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 81% said that they have everything under control.

Struggles with finance19%

Easily manages finances81%

Financial goals and targets of couples living in Chicago

Financial goals of couples in Chicago

In an attempt to understand the economic situation in Chicago, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund6%
Debt Reduction28%
Retirement Savings6%
Education Funding9%
Homeownership16%
Investing10%
Travel or Lifestyle13%
Healthcare Expenses7%
Financial Independence10%

Around 6% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 28% said their number one priority is to pay off high-interest debt or loans and improve credit. 6% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 9% reported that their priority is saving for the tuition fees and education costs of their children while 16% choose to buy a home or pay off existing mortgage before other things. 10% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 13% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 7% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Chart showing the percentage of couples who are in debt in Chicago

Debt, loans, and mortgages in Chicago


Percentage of couples who are in debt


In Debt
29%
Debt Free
71%

According to the survey, 29% of the couples in Chicago have some kind of debt, loan, mortgage, or credit card payments while 71% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Chicago

Debt-to-income ratio in Chicago

Debt to income ratio

31%

18% to 43%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 31% of a couple's monthly income in Chicago goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%2%
50% - 60%9%
40% - 50%10%
30% - 40%12%
20% - 30%17%
10% - 20%21%
0% - 10%29%

According to our data, 2% of the debtors in Chicago pay 60%+ of their income as debt settlement while 9% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 10% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 12% dedicated 30% to 40% of income for same. Things are looking brighter for 17% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Chicago

Debt% People
Real Estate Mortgage15%
Auto Loan26%
Student Loan3%
Credit Card23%
Personal Loan34%

15% of debtors in Chicago confirm that real estate mortgages constitutes the main part of their outstanding debt while 23% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 26% of people and personal loans rose at 34%. Lastly, student loans are the main source of debt for 3% of debtors in Chicago.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Chicago

Besides measuring the loan-to-income ratio, we asked couples of Chicago how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never57%
Once a year21%
Twice a year11%
Three times a year8%
Four times a year3%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Chicago

Housing costs, accommodation, and housing affordability in Chicago

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Chicago

Monthly Rent Prices

Studio apartment monthly rent cost

610 USD 920 USD 2,500 USD
MINIMUM AVERAGE MAXIMUM

1-bedroom apartment monthly rent cost

920 USD 1,500 USD 3,700 USD
MINIMUM AVERAGE MAXIMUM

2-bedroom apartment monthly rent cost

1,200 USD 1,800 USD 4,900 USD
MINIMUM AVERAGE MAXIMUM

3-bedroom apartment monthly rent cost

1,500 USD 2,500 USD 6,700 USD
MINIMUM AVERAGE MAXIMUM

Furnished apartment monthly rent cost

2,900 USD 7,400 USD 15,000 USD
MINIMUM AVERAGE MAXIMUM

Townhouse monthly rent cost

2,500 USD 3,700 USD 11,000 USD
MINIMUM AVERAGE MAXIMUM

House monthly rent cost

2,900 USD 7,400 USD 15,000 USD
MINIMUM AVERAGE MAXIMUM

Villa monthly rent cost

3,700 USD 9,200 USD 15,000 USD
MINIMUM AVERAGE MAXIMUM

The monthly rental cost of a studio apartment in Chicago ranges between 610 USD and 2,500 USD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 920 USD to 3,700 USD. Two-bedroom rentals rate ranges between 1,200 USD and 4,900 USD per month. The monthly rental for a three-bedroom apartment ranges from 1,500 USD to 6,700 USD. The average rent of a townhouse in Chicago is around 3,700 USD while house rental costs can be as high as 7,400 USD per month. Finally, if you want to rent a villa, expect to pay anywhere from 3,700 USD to 15,000 USD per month.



Apartment and house prices in Chicago

Cost of buying a property

Studio apartment price

120,000 USD 180,000 USD 370,000 USD
MINIMUM AVERAGE MAXIMUM

1-bedroom apartment price

150,000 USD 250,000 USD 920,000 USD
MINIMUM AVERAGE MAXIMUM

2-bedroom apartment price

250,000 USD 740,000 USD 1.5M USD
MINIMUM AVERAGE MAXIMUM

3-bedroom apartment price

820,000 USD 1.2M USD 3.7M USD
MINIMUM AVERAGE MAXIMUM

Townhouse price

1.1M USD 2.5M USD 9.2M USD
MINIMUM AVERAGE MAXIMUM

House price

1.2M USD 7.4M USD 10M USD
MINIMUM AVERAGE MAXIMUM

Villa price

1.5M USD 8.2M USD 12M USD
MINIMUM AVERAGE MAXIMUM

The average price of a studio apartment in Chicago can range from 120,000 USD to 370,000 USD depending on location. One bedroom cost can be anywhere from 150,000 USD to 920,000 USD. A villa can cost you 8.2M USD on average with prices ranging from 1.5M USD to 12M USD.


If you're leasing or purchasing, housing costs in Chicago will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


60 x179 monthly income 279
MINIMUM AVERAGE MAXIMUM

Property prices in Chicago can be x179 to x279 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x179 multiples of the average monthly salary in Chicago.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


31% 43% of income 55%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Chicago is around 43%. This means that people pay 43% of their income for rent. Those figures can range from 31% to 55% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
40%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
2.6%
AVERAGE
3.7%
TO
4.7%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


10 USD 130 USD 1,300 USD
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Chicago

Utilities expenditure can vary slightly between different areas and locations.


Energy, electricity, water, gas, internet, and mobile cost in Chicago

Utility Bill Cost / Electricity + Water + Gas / Couple

100 USD 350 USD 2,300 USD
MINIMUM AVERAGE MAXIMUM

Internet and cable cost

31 USD 63 USD 84 USD
MINIMUM AVERAGE MAXIMUM

Mobile phone bill and charges

25 USD 42 USD 130 USD
MINIMUM AVERAGE MAXIMUM

Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.


The average monthly energy and water consumption of couples is around 350 USD. The cost of internet and WiFi ranges from 31 USD to 84 USD with 63 USD being the average internet bill. Finally, the average monthly mobile charges is around 42 USD but can range between 25 USD and 130 USD depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


1.2% 4.9% of income 9.8%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Chicago is around 4.9%. This means that people pay 4.9% of their income for energy, water, internet, and mobile charges. Those figures can range from 1.2% to 9.8% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Chicago

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Chicago

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

6.3 USD 13 USD 21 USD
MINIMUM AVERAGE MAXIMUM

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Chicago is approximatly 13 USD with meal cost ranging from 6.3 USD to 21 USD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

23 USD 34 USD 68 USD
MINIMUM AVERAGE MAXIMUM

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 23 USD and 68 USD with 34 USD being the average price of a plate for one person at a regular restaurant in Chicago.

Fine dining meal for one price

45 USD 68 USD 270 USD
MINIMUM AVERAGE MAXIMUM

The price range of a meal at fine-dining restaurant is 45 USD to 270 USD with the average cost being 68 USD for one person. This is what you would expect to pay a top-tier diner in Chicago.

Beverage prices, cappuccino, latte etc..

5.2 USD 8.4 USD 13 USD
MINIMUM AVERAGE MAXIMUM

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Chicago is around 8.4 USD. Price ranges between 5.2 USD and 13 USD depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

4.2 USD 5 USD 6.3 USD
MINIMUM AVERAGE MAXIMUM

The average price of a large bottle of milk in Chicago is 5 USD. The maximum what you would pay for milk is 6.3 USD and the minimum being 4.2 USD depending on the brand of milk and other properties.

12 eggs price

3.1 USD 4.2 USD 6.3 USD
MINIMUM AVERAGE MAXIMUM

A dozen eggs costs around 4.2 USD on average with 3.1 USD and 6.3 USD being the lower and upper limits respectively.

Fresh whole chicken price

7.1 USD 9.2 USD 13 USD
MINIMUM AVERAGE MAXIMUM

The price range of a fresh whole chicken in Chicago is between 7.1 USD and 13 USD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 9.2 USD.

Pack of beef price

8.4 USD 13 USD 25 USD
MINIMUM AVERAGE MAXIMUM

The price of a regular pack of beef or meat is around 13 USD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

3.4 USD 4.6 USD 6.5 USD
MINIMUM AVERAGE MAXIMUM

A bag of rice in Chicago costs around 4.6 USD on average with prices rangeing between 3.4 USD and 6.5 USD depending on the brand and quality.

Bag of tomatos price

1.3 USD 1.7 USD 3.1 USD
MINIMUM AVERAGE MAXIMUM

A bag of tomatoes costs anywhere from 1.3 USD to 3.1 USD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

2.2 USD 2.9 USD 4.8 USD
MINIMUM AVERAGE MAXIMUM

A bag of apples costs 2.9 USD on average. A bag of apples denotes 1Kg or 1lb depending on location.


Grocery and food expenditure to income ratio


( monthly grocery expenses / monthly income ) x 100


20% 29% of income 37%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Chicago is around 29%. This means that couples spend 29% of their income on grocery and basic household items. The expenditure can range from 20% to 37% depending on salary and location.


Expenditure on food and grocery for couples

Couples' spending on grocery ranges from 360 USD to 5,800 USD with the location, income, and size of the couple being the most determinite factors.

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