What Salary Do You Need to Live in Chicago, IL?

To live comfortably in Chicago, a household needs to earn roughly $65,000/year. That's about $5,417/month before taxes.

The Number: $65,000/year

At $65,000 per year, a household in Chicago can afford median-priced rental housing at roughly 28% of gross income.

This is based on Chicago's median monthly rent of $1,486 and the 28% housing guideline. Source: Census ACS 2024.

Chicago at a Glance

Median rent$1,486/mo
Median home price$341,200
Median household income$80,613
State income tax4.95% flat
Sales tax10.25%

Sources: Census ACS 2024, Tax Foundation.

For Single Residents

A single person can live comfortably in Chicago on roughly $40,000/year. That's about $3,333/month before taxes.

See the full Chicago cost of living profile →

Compare Chicago to another city →

Try the Salary Calculator

Note: Salary estimates are based on the 28% housing guideline applied to median rents from Census ACS 2024. Individual circumstances vary. Full disclaimer.

Salary Questions About Chicago

The median monthly rent is $1,486. Using the 30% guideline, you need about $59,000/year to afford this comfortably.

The median home price is $341,200. With a 20% down payment, you would need roughly $68,240 saved and a household income to support the mortgage payments.

The median household income is $80,613/year. Our recommended salary of $65,000/year is near the median, reflecting a comfortable (not extravagant) standard of living.