Chicago, IL Relocation Guide (2026)
Cost of living, housing, and income data for Chicago, sourced from the US Census Bureau.
Salary needed to live in Chicago →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Chicago is a city of roughly 2,721,914 in Illinois. The median household there earns $71,673 annually, which runs roughly in line with the multi-city median income (-1%).
The typical home in Chicago is worth $304,500, roughly in line with the multi-city median (-7%), while the typical renter pays $1,314 a month. Either path — buying or renting — deserves a look at today's rates before deciding.
Buying a typical home in Chicago would run about 4.2 years of median household income — a moderate multiple, not unusually high or low. Home prices near Chicago have risen a steady 5.52% over the past year — measured growth, not a spike. Natural-hazard exposure in Chicago is rated Very High by FEMA, on the elevated end — something to check with insurers before buying.
Personal Affordability Check
Renting at $1,314/mo in Chicago would take 22.0% of your income.
$478/mo under the 30% guideline.
Buying the median home ($304,500) would take 27.2% of your income toward principal & interest.
$47/mo under the 28% guideline.
Cost of housing in Chicago
Median home value is $304,500 and median gross rent is $1,314/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Cook rose 5.52% over the past year (as of 2025).
Climate & home insurance
FEMA rates Chicago's overall natural-hazard risk as Very High. Risk level is a major driver of home insurance premiums.
Safety
Chicago reported a violent crime rate of 420.4 per 100,000 residents in 2025, per FBI data.
Moving to Chicago
Planning a move to Chicago? Compare licensed movers and get quotes based on your origin and move date.
Explore neighborhoods in Chicago →
Cost estimates for moving between Chicago and nearby popular destinations:
- Moving from Chicago to New York
- Moving from Chicago to Austin
- Moving from Chicago to Los Angeles
- Moving from Chicago to Detroit
- Moving from Chicago to Columbus
- Moving from Chicago to Indianapolis city (balance)
- Moving from Chicago to Milwaukee
- Moving from Chicago to Phoenix
- Moving from Chicago to Tampa
- Moving from Chicago to Atlanta
- Moving from Chicago to Nashville-Davidson metropolitan government (balance)
- Moving from Chicago to Dallas
- Moving from Chicago to Denver
- Moving from Chicago to Charlotte
- Moving from Chicago to Raleigh
Frequently asked questions
- What is the cost of living in Chicago, IL?
- Cost of living in Chicago centers on housing: median home value runs $304,500, median rent runs $1,314/month, and the typical household earns $71,673 a year. Data via the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Chicago?
- At Chicago's median rent of $1,314/month, the 30%-of-income guideline suggests an annual income around $52,560 to stay comfortably housed. See the full salary breakdown (renting and buying) for Chicago.
- Is it better to rent or buy in Chicago?
- Comparing the two in Chicago: renting at the median $1,314/month needs about $52,560 in annual income (30% guideline), while buying the $304,500 median home needs roughly $69,668 a year in principal-and-interest, assuming 20% down and a 30-year fixed loan at current rates.
- Is Chicago safe?
- Chicago reported a violent crime rate of 420.4 per 100,000 residents in 2025, per FBI data. Compare that figure against other cities you're considering for context.
See the full salary breakdown for Chicago →
Compare Chicago to similar cities
- Chicago vs New York: Cost of Living & Housing Comparison
- Chicago vs Austin: Cost of Living & Housing Comparison
- Chicago vs Los Angeles: Cost of Living & Housing Comparison
- Detroit vs Chicago: Cost of Living & Housing Comparison
- Columbus vs Chicago: Cost of Living & Housing Comparison
- Indianapolis vs Chicago: Cost of Living & Housing Comparison
Cities with a similar cost of living
Matched on median rent and household income within 15% of Chicago's.