Cost of Living in Chicago, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
131.3
100 = national avg
+31.3 vs national average
Living Wage (1 Adult)
$57,777
per year
Living Wage (Family of 4)
$136,563
per year
Cost Index by Category
Housing164.7
Food107.4
Transportation120.0
Healthcare105.9
Utilities117.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Chicago is 131.3, which is 31.3% above the national average. Housing costs are above the national average at an index of 164.7. A single adult needs to earn approximately $57,777 per year to cover basic expenses.