Utility prices sit so far on the affordable side of the scale, that paying for power, water, gas and internet are almost $25 less per month here than in New York City and over $118 less per month than in San Francisco.Ĭommuting by car in Chicago is no joke. At 1.4 percent below, utility costs are quite reasonable, and you should expect to see an energy bill of around $156.96. Chicago utility pricesĬhicago cost, when it comes to utilities, is actually the only component of your cost of living index that’s under the national average. You can always bring over a bottle of wine ($10.27) to a friend’s house and get in on a potluck meal. A three-course meal for two at a mid-range restaurant in Chicago averages out to an $80 bill.Įven if both of these options seem a little costly, don’t worry. However, planning a date night can cost a bit more. You can go for a quick meal at an inexpensive restaurant, where a single person will spend about $20. If you’ve managed to set aside some funds to pay for a meal out, you have some options. Food costs when it’s time to enjoy a night out To get a better idea of what the basics on your shopping list may cost you, expect to see a dozen eggs for $1.86, ground beef for $6.01 a pound and a loaf of bread for $3.18. This means grocery stores aren’t going to gouge you as they might do in cities like San Francisco or New York. Chicago’s price for groceries is pretty reasonable - only 3.1 percent over the national average. However, eating out every night is impossible if you’re trying to stay on a budget. It also doesn’t hurt that the city is home to Michelin-starred chefs and restaurants specializing in almost any type of cuisine. From an iconic Chicago dog at Wrigley Field to that special deep-dish pizza, you have plenty of solely Chicago options. Managing your Chicago cost of living on a budget, average rent for one-beds in Woodlawn and Bridgeport hover right around $1,000 per month. If you’re looking to stay within the city limits and save a little on rent, there are plenty of options. With an average one-bedroom rent of $1,900, River North gives you all the glitz without upping the average rent too high. To stay in the business district of Chicago, but pay a little less, River North keeps you in the heart of the city. You may have to forgo a more expensive area in Chicago, like Fulton Market, where the average one-bedroom is $2,850, or Hyde Park, where you’ll pay an average of $2,715 per month. While there are plenty of great apartments throughout the city, your cost of living definitely dictates where you can and can’t call home. ![]() Knowing Chicago’s cost for apartments by neighborhood is truly helpful as you begin your search. With home prices like these, though, it might be a good time to become a homeowner. This could mean demand is slowing, or there’s too much on the market. Homes stay on the market for a bit longer than in other major cities, averaging out at around 54 days. When it comes to home prices, the median price in Chicago is $370,000, up 4.2 percent over last year. Two-bedroom apartments are up in price by nine percent, with an average monthly cost of $2,622. Your average one-bedroom apartment is up 12 percent in rent, with monthly costs of $2,000. Right now, rent in Chicago is seeing a small increase. ![]() Your estimated monthly costs, when it comes to housing, will fluctuate dramatically by neighborhood. Housing costs are 52.9 percent above the national average, which is high, but the real estate market here is seeing a decrease. How much do you need to earn to live in Chicago?Ĭhicago real estate - whether you’re renting or buying - is becoming slightly more affordable.To do this, let’s look at the cost of living in Chicago in its essential parts. However, like San Francisco and Boston, the Windy City has many amenities within walking distance or a quick train ride for easier (and less costly) living options.įinding your niche in this expensive city is possible by breaking out individual living costs and working out how to stretch your money the furthest. ![]() It’s slightly less than some, like San Francisco, Boston or New York, and comparable to other cities like Miami or Denver. At 26.4 percent above the national average, monthly costs here are much like other major cities. Despite its pros, the cost of living in Chicago doesn’t come cheap.
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