What Is the Average Cost of Living in Chicago?

The cost of living in Chicago can vary greatly depending on location and lifestyle. As the third-largest city in the United States, Chicago is home to a wide range of lifestyles, from the bustling downtown attractions to the quaint neighborhoods of the suburbs.

According to Numbeo’s Cost of Living Index, the current cost of living in Chicago is 44.58% higher than the national average, with a total monthly estimate of $3,250 for a one-bedroom apartment. That includes the rental costs, utilities, groceries, transportation and entertainment expenses.

Rent alone has seen a steady increase for years. In a 2020 report by RENTCafé, the average rent for all types of apartments (studio to 3+ bedrooms) grew to $1,770 as of April 2020. The Chicago Tribune reported that two-bedroom apartments in the downtown area can surpass an average of $3,000. To find an affordable place to live in Chicago, you’ll need to consider the potential job market and the cost-effective attractions in a particular neighborhood.

For groceries, Chicagoans can expect to pay an average of $388 per month. Albertsons and Jewel-Osco are staples here, but there are also plenty of mom-and-pop shops scattered throughout the city.

In terms of entertainment and transportation, Chicago has so much culture to explore and offers multiple types of commuting (bus, task-sharing services, train) — all five percent cheaper than the US average.

In conclusion, the cost of living in Chicago can range from very affordable to highly expensive, depending on the area and what you will be getting out of your livable space. Ideally, if you’re looking for an entire apartment for yourself or for your family, budget for around $3,250/month — if you prefer something lower, you should start looking up more affordable areas such as Edgewater or Andersonville and keep an eye out for apartment deals. If you’re busy working away from 9 to 5 and find yourself much modern convenience, downtown might be within your budget range.

No matter where you decide to live, remember that always staying up-to-date with market trends will be beneficial to keep spending to a minimum. To get the most accurate cost of living insights in Chicago or any other city, you can check out Numbeo’s Cost of Living Calculator.

Insider’s Guide to Chicago

Chicago is the third most populous city in the United States, renowned for its architecture, sports teams, and famous foods like deep-dish pizza, hotdogs, and Italian beef. The city offers an array of tourist attractions, including stunning parks, museums, art institutes, beaches, and cultural events. Besides being a tourist hub, Chicago is also a bustling metropolis with a thriving music, fashion, and arts scene. But before you pack your bags and head to the Windy City, it’s crucial to know the average cost of living in Chicago and how to plan your trip accordingly.

Average Cost of Living in Chicago

Chicago ranks as the 14th most expensive city in the United States. The average monthly cost of living for an individual is around $2,900, which includes rent, utilities, transportation, and groceries. If you’re planning to visit Chicago as a tourist, consider setting aside a budget of around $200-300 per day, which covers accommodation, food, transportation, and activities. Fortunately, Chicago offers an array of affordable options, including budget-friendly hotels, street food, and free activities like visiting parks and museums.

Traveling in Chicago

Chicago is interconnected through a well-established transportation system, including buses, trains, and cabs. The Chicago Transit Authority (CTA) operates the bus and train systems, with fares ranging from $2.50-3.00 per ride. However, if you’re planning to spend an extended period in Chicago, purchasing a CTA card from a vending machine or online will help you save on fares. Cabs and ride-sharing services like Uber and Lyft are available, but they can be expensive, so opt for public transport whenever possible.

Local Attractions

Chicago boasts an array of tourist attractions that cater to a diverse range of interests. The following are some of the top attractions that you should not miss when visiting Chicago:

– The Bean (Cloud Gate): Located in Millennium Park, the bean is the city’s most popular attraction. This stainless-steel sculpture reflects the skyline of Chicago and is a must-visit for photography enthusiasts.

– Navy Pier: It’s a 3,300-foot long pier situated on Lake Michigan’s shoreline, featuring shops, restaurants, a Ferris wheel, and entertainment options for both adults and kids.

– The Art Institute of Chicago: This museum houses a vast collection of artworks ranging from ancient artifacts to contemporary pieces. The museum’s highlight is the Thorne Miniature Rooms, meticulously crafted to depict different historical periods.

– Willis Tower (formerly known as Sears Tower): At 110 stories, Willis Tower is among the tallest buildings globally, offering panoramic views of the city from its observation deck.

– Shedd Aquarium: Home to over 32,500 aquatic animals, the aquarium has a variety of exhibits showcasing different marine creatures, including whales, dolphins, penguins, and sea otters.

Dining in Chicago

Chicago is renowned for its distinctive cuisine, from its famous deep-dish pizza to gourmet hot dogs and Italian beef sandwiches. If you’re a foodie, make sure to visit the following dining spots for an unforgettable dining experience:

– Giordano’s: Known for their mouth-watering and cheesy deep-dish pizza, Giordano’s is a Chicago staple for locals and tourists.

– Portillo’s: If you’re a fan of hot dogs, visit Portillo’s and savor their classic Chicago-style hot dogs. You can also try their Italian beef sandwiches, which are equally delicious.

– Girl and the Goat: A celebrity chef-led restaurant, Girl and the Goat, serves up contemporary dishes that are creative and delicious. The restaurant’s menu changes frequently, so check the latest options before visiting.

– The Purple Pig: An excellent place to enjoy Mediterranean-inspired small plates, The Purple Pig offers an extensive wine and cocktail list.

Culture and History

Chicago has a rich cultural and historical heritage, reflected in the city’s museums, art institutes, and other cultural events. Here are some of the best experiences for experiencing the city’s culture and history:

– Chicago Architecture River Cruise: Chicago is renowned for its unique architecture, and a river cruise offers a comprehensive tour of the city’s skyline and architecture styles.

– Chicago History Museum: The museum has an extensive collection of artifacts showcasing the city’s history, including vintage photographs, art pieces, costumes, and other historical objects.

– Chicago Jazz Festival: Held annually during August in Grant Park, Chicago Jazz Festival brings together world-renowned jazz musicians and showcases the city’s rich jazz heritage.

– Second City: Known for featuring legendary comedians, Second City is a world-famous comedy club that hosts nightly improv and sketch comedy shows that are a hilarious experience.

Off the Beaten Path

If you’ve already visited all of the tourist hotspots and are looking for something unique, Chicago has plenty of hidden gems to offer. Here are some of the lesser-known, off-the-beaten-path experiences that you can explore:

– Garfield Park Conservatory: Located on the West Side of Chicago, Garfield Park Conservatory is an oasis in the city and home to over 600 varieties of plants.

– The 606: The 606 is a stretch of abandoned elevated train tracks that have been transformed into a stunning elevated park, offering beautiful views of the city skyline.

– Atlas Obscura: From a secret speakeasy bar to a hidden art installation, Atlas Obscura offers an array of unusual and lesser-known attractions in the city.

– Chicago Riverwalk: A relatively new addition to the city, the Chicago Riverwalk is a scenic pathway that runs along the Chicago River, featuring numerous cafes, restaurants, and other entertainment options.

In conclusion, Chicago is a vibrant and exciting city that has something to offer for everyone. Whether you are a history buff, a foodie, or an adventure seeker, Chicago will leave you enthralled with its beauty, culture, and hospitality.