2026 cost of living data for Chicago. Overall cost index: 112 (national avg = 100).
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Chicago is above the national average in terms of cost, with an overall cost of living index of 112. This means living in Chicago is approximately 12% more expensive than the national average.
Housing costs are notably higher than the national average, which is a significant factor in the overall cost of living. The housing index for Chicago is 118, which means housing costs are 18% above the national average. This includes both rental prices and home purchase costs in the metropolitan area.
The median household income in Chicago is $65,781, with a population of approximately 2,693,976. The median household income is moderate, providing a reasonable standard of living relative to local costs.
The job market in Chicago is solid, with steady growth in several key sectors and reasonable unemployment rates.
Beyond housing, daily expenses in Chicago are near the national average. Groceries and dining carry an index of 104, while transportation costs sit at 110. Healthcare expenses index at 106, and utilities come in at 97.
Taxes in Chicago are above average at 115, which factors into the overall cost of living. State income taxes and local levies contribute to the higher burden.
The weather in Chicago is typical for its region, with distinct seasons and moderate conditions for most of the year.
Like many major cities, Chicago faces some safety challenges, though many neighborhoods remain safe and vibrant communities.
Chicago may be expensive, but many residents find the higher costs justified by the career opportunities, cultural amenities, and lifestyle the city offers. With a good job market and fair weather, Chicago continues to attract new residents drawn by the favorable cost of living.
