Cost of living in Chicago
Chicago, the bustling metropolis in Illinois, is known for its vibrant culture, diverse neighborhoods, and iconic skyline. Understanding the cost of living in Chicago is crucial for anyone considering moving to or living in the city.
This guide provides a detailed breakdown of various expenses, including housing, transportation, groceries, and more, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $25 on average, with a range between $18 and $38.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $100, with prices ranging from $65 to $150.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $11.42, with a range between $10 and $14.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $5 to $10, imported beer $6 to $12, cappuccino $4 to $8, and Coke/Pepsi $2 to $4.
Grocery Prices
- Milk - Milk is priced between $0.79 and $1.45 per liter, averaging $1.01.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.76 and $6.61, with an average price of $4.16.
- Eggs (Dozen) - A dozen eggs range from $1.99 to $6, averaging $3.75.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.18 to $8.82 per kg, while oranges range from $2.18 to $11.02 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.1 and $4.41 per kg, and lettuce costs $1 to $3 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.5 and $3.5, with a monthly pass priced between $75 and $110.
- Fuel (Gasoline) - Gasoline is priced between $0.92 and $1.32 per liter.
- Taxi Fares - Taxi fares start at $3.25, with a cost of $1.4 to $3.11 per km and $25 to $40 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1900 to $3000, averaging $2380.71.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1300 to $2000, averaging $1542.79.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $3500 to $6000, averaging $4491.3.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2000 to $4000, averaging $2904.17.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $2690.98 to $4628.48, averaging $3552.09.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $2153 to $4036.47, averaging $2933.22.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $101.66 and $295, averaging $165.59.
- Internet - Internet services range from $40 to $100, with an average cost of $61.8.
Cost of Living Rankings
Chicago ranks 12th on the Cost of Living rankings in United States. The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Chicago's cost of living is relatively high, with significant expenses in housing and dining. Rent in the city centre is notably expensive, while transportation costs are moderate.
Grocery prices vary, with some items like bread and eggs being more costly. Utilities and internet services are reasonably priced, offering some relief in monthly expenses.
For those looking to save, consider living outside the city centre and utilizing public transportation to reduce costs.
Conclusion
In conclusion, living in Chicago requires careful financial planning due to its high cost of living, particularly in housing and dining.
Potential residents should weigh the benefits of city life against the expenses and explore cost-saving measures such as living outside the city centre and using public transport.