Savings rate in Chicago — are you on track?
Chicago is a high cost city. 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.
Median rent
$1,800/mo
Chicago 2023
Typical other costs
$1,800/mo
excl. housing
Savings benchmark
7–20%
mid-income USD
Pre-set for Chicago — adjust to your situation
What a good savings rate looks like in Chicago
Using data from BLS Consumer Expenditure Survey 2023, people at mid-range incomes in United States typically save between 7–20% of gross income. In a high cost city like Chicago, housing costs can compress that meaningfully — especially for renters.
Source: BLS Consumer Expenditure Survey 2023. Benchmarks shown for mid-income earners in United States.
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