Cost of Living and Inflation in Chicago, Illinois: What do you need to know?

Chicago is a vibrant city with lots to do. It is expensive to live here so budgeting is advisable.

If you are moving to Chicago, the neighborhoods are very distinct from one another in lifestyle, cost of living, safety, and access to amenities. As for crime, the majority is concentrated in a few areas, but like any other city, be cautious about your surroundings and listen to your gut. Most Chicagoans are happy to help strangers and will happily give directions or recommendations. The best sources for cheap but good groceries are Aldi and Trader Joe’s.

Someone who is moving to Chicago should consider the cost of living in the city; the rent is higher than one would expect. Even small apartments are expensive. Our two bedroom apartment costs $3,000 per month. On top of the rent, one has to pay for parking. A parking spot can potentially cost as much as car payment!

Living downtown, it is very easy to get around Chicago without a car. The CTA transit system, and the Metra lines, are wonderful alternatives to wasteful cars. Gas is very expensive in Cook County, as well. It is important to research the area or neighborhood in which you would like. Some areas are more dangerous than others.

Chicago is a beautiful, urban city in Illinois. With some of the highest rated restaurants in the country, beautiful parks, and the riverwalk, it also one of the most densely populated cities in the country. If one moves to Chicago, they must be prepared for an elevated cost of living, including the price of rent.

Chicago has a unique duality that is not comparable to any major US city. While one may think that being non-coastal is a drawback for the city, Lake Michigan aids in refuting that claim as a moot point. The beaches along Lake Michigan, made accessible by the highly revered Lake Shore Drive (LSD), rival those of Malibu or Long Island. Residents are given the two unparalleled luxuries of being in the heart of the American midwest and feeling a coastal-like beach breeze.

Are you moving to Chicago? The first thing to consider is whether you want to rent or buy a property. Chicago and the state of Illinois have some of the highest property taxes in the nation.

Chicago offers cultural spectacles, delicious cuisine, and awe-inspiring architecture; however, one must consider the cost of rent when moving to the Windy City. Quaint neighborhoods, such as Wicker Park, Logan Square, and Lincoln Park, attract people from diverse backgrounds, but the price of engaging with such vibrant communities remains high. With a steady job and the right number of roommates, though, anyone can experience the adventures of the Midwest’s greatest city.