Cook County · Illinois
Cost of living in Chicago, 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
Living in Chicago, IL costs 3.6% above the national average — an all-items price level of 103.6. To match the buying power of a $100,000 national-average salary you would need about $103,595 here.
- 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. |
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.
The median household in Chicago earns $71,673. Deflated by the local price level, that is $69,186 in national-average dollars — the BEA calls this real income, and it is simply income × 100 ÷ 103.6.
More on Chicago
Same city, other datasets.
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.