How much does it cost to live in Chicago?

Typical monthly costs in Chicago are approximately $1,800 in rent and $1,800 in other expenses, totalling around $3,600/month.

How much should I save in Chicago?

Based on BLS Consumer Expenditure Survey 2023, people at mid-range incomes in United States typically save 12–20% of gross income. In a high cost city like Chicago, housing costs can reduce this, particularly for renters.

Chicago · USD · high cost city

Cost of living in Chicago — is your salary enough?

Chicago median rent is $1,800/month — significantly lower than coastal peers despite being a major financial hub. Chicago's relatively affordable housing means mid-income earners can exceed national savings benchmarks.

Rent in Chicago

Budget$1,400 – $1,600/mo

Typical$1,800 – $2,050/mo

Premium$2,300+/mo

Other monthly costs

Food, transport, bills, going out~$1,800/mo

Total typical monthly spend~$3,600/mo

How different incomes stack up

At typical Chicago costs ($1,800 rent)

$40,000 – $55,000→ saving -16.6%

Critical

$55,000 – $75,000→ saving 6.4%

Under-Saving

$75,000 – $100,000→ saving 30.5%

Ahead

See your personal verdict for Chicago

Country

Annual income (gross)$65,000

$20,000$235,000$450,000+

Monthly rent or mortgage$1,800/mo

$0$4,000$8,000+

Other monthly expenses

Food, transport, subscriptions, going out — everything except rent

$1,750/mo

$0$3,750$7,500+

Age (optional — improves benchmark)

Do you invest regularly? (optional)

No signup required. Results are instant and private.

Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from BLS Consumer Expenditure Survey 2023. Figures in USD.

Check your savings rate in Chicago →

Compare nearby cities

New York Denver Atlanta

Also in the Verdict suite

SalaryVerdict — Is your Chicago salary competitive?SpendVerdict — Is your Chicago rent too high?