Cook County · Illinois
Chicago cost of living (IL)
Price levels published by the Bureau of Economic Analysis for Chicago-Naperville-Elgin, IL-IN, with the national average set to 100 — so 108 means things cost 8% more here than the US average.
Quick answer
Chicago costs 3.6% above the national average — all-items price level 103.6, rank 26 of 94 covered metros. A $100,000 national-average salary needs to be $103,595 here. Housing is the reason, at 112.0.
- All items
- 103.6US average = 100
- Housing
- 112.012.0% above the national average
- Goods
- 107.37.3% above the national average
- Other services
- 100.5in line with the national average
Price level by component
Where the difference actually comes from.
| Component | Index | vs US | What it covers |
|---|---|---|---|
| Goods | 107.3 | +7.3% | Groceries, fuel, clothing, durable purchases. |
| Housing | 112.0 | +12.0% | Rents and imputed rents — the biggest single swing factor. |
| Utilities | 83.6 | -16.4% | Electricity, gas, water and other household energy. |
| Other services | 100.5 | +0.5% | Healthcare, dining, repairs, personal services. |
Reading the Chicago price level
What the 103.6 figure actually means for a household here.
Chicago prices sit 3.6% above the US average — an all-items parity of 103.6, rank 26 of 94 covered metros. Moderately above average. The median covered metro reads 100.8.
Housing drives it: 112.0, 12.0% above average. Utilities pull the other way at 83.6. The spread between the cheapest and dearest component is 28.4 points, so the headline number hides real variation — a renter and an owner in Chicago do not face the same cost gap versus the rest of the country.
A $100,000 national-average salary needs to be $103,595 here to buy the same basket. Run it the other way: the $71,673 median household income in Chicago is worth $69,186 in national-average dollars, 11.9% below the $78,538 US median. Local pay does not cover the local price level.
Parities are published for Chicago-Naperville-Elgin, IL-IN as a whole. Neighbourhood prices inside that metro diverge widely, and BEA revises the series annually.
What your salary is worth in Chicago, IL
Enter a salary. We deflate it by the local price level (103.6 where 100 is the US average) and show what you would need to earn here to match the same pay somewhere average.
- Real value here
- $69,186
- Needed to match US average
- $74,250
- Monthly difference
- $215
What a local paycheck is really worth
Nominal pay is only half the story.
$71,673 median household income in Chicago is worth $69,186 in national-average dollars. BEA calls that real income: income × 100 ÷ 103.6.
Frequently asked questions
Common questions about this area.
- Is Chicago expensive?
- Yes — 3.6% above the US average, rank 26 of 94 covered metros. housing is the component furthest from average at 112.0.
- What salary do you need to live in Chicago, IL?
- $103,595 to match a $100,000 national-average salary. The local median household earns $71,673, worth $69,186 after adjusting for the 103.6 price level.
- Why is the cost of living high in Chicago?
- Housing at 112.0 versus utilities at 83.6. A 28.4-point spread between components means one category, not general inflation, sets the headline figure.
More Chicago data
Other Chicago datasets on this site.
- Chicago population and income
- Chicago sales tax rate
- Chicago property tax
- Chicago home values and rent
- Chicago crime rates
- Chicago public schools
- Chicago weather normals
- Chicago commute times
- Chicago jobs and wages
Statewide: Illinois cities · Illinois ZIP codes · Illinois sales tax · Illinois counties
2024 BEA Regional Price Parities, published for Chicago-Naperville-Elgin, IL-IN. Parities are metro-wide, so a single neighbourhood can sit well above or below these figures.