Cost of Living in Chicago

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Minimum wage in Chicago is 13$ not 8$. Also, average income of 3800$ monthly after tax is REAL. Because it's not MEDIAN income! People you need to make difference between average and median! Median income is income that most of workers have and for Chicago it's most likely 2500$/mo after tax. Average income is 3800$ because of billionares and those who make 100k+. Average income is calculated like this: totalize income of all Chicago citizens and divide with population number. Here's example: I make 50k, my sister makes 100k, average salary would be 75k, so she has more and lives rich while I'm living worse 25k than average salary! Median income is more likely representative for wealth. Median income would be this: Person A makes 50k, Person B 50k, Person C 50k, Person D 100k. Median income would be 50k because thats amount that most have, while average income would be 62k which would be a total lie for most of them except person D. I hope I've helped you understand the Average wage stated above. My suggestion to admins, add median salary too.

The cost of living in Chicago is very reasonable compared to other top tier cities like NYC, LA, London, etc.

Anyone saying Chicago is expensive is comparing it to small town Midwest.

I find that the NET income after tax is a bit high. I live outside the city but work with lots of people from the city, not many make that kind of money there. DOWNTOWN Chicago yes, but when you get out into the outskirts of the city... I bet its more in the mid 2k range. South side will more than likely be under 2k dollars. I use this site for lots of cost of living comparisons, and having traveled the world I find this site somewhat helpful if you take the info with a grain of salt. Might be a great city to visit, but statistically we have the highest numbers in the nation for people leaving the state.

Rent vs monthly take-home salary seem way off. Based on the average take-home salary of ~$3K/month how is one to afford a monthly rent of ~$3K/month?

I have been living in Chicago for five years, in three different apartments in three different neighborhoods, and I can tell you that you can certainly find an apartment, in the price range, if you look hard enough. Obviously some things (parking especially) will limit your options. I give three actual specific examples of the apartments I've lived in... the neighborhood you pick determines everything! Except taxes, which are horrible everywhere.

First apartment: Junior 1 bedroom on the border Old Town/Gold Coast neighborhoods (specifically LaSalle and Division). I paid $1050 a month with ALL utilities included. Tiny kitchen. Tiny bathroom. Doorman, close to train CTA train station and 156 bus, Jewel Osco and Starbucks down the street. Awesome night life in one of the best neighborhoods in the city. Great neighborhood for a young person in their twenties. Absolutely no hope for parking (I didn't have a car at the time). There was a parking garage that rented spots for $250 a month, so there was that I guess. In building laundry ($1.75 a load). High rise, 13 stories. Amazing rooftop view of the city. Cat friendly.

Second apartment: 4 bedroom 2 bathroom on Near West Side (Taylor and Western) for $1600, I shared it with two other people. Free laundry and a free parking spot. Pay electric and gas. Decent neighborhood, but would not recommend walking south of Roosevelt or west of Western at night. Baccis pizza, bakery, and a dive bar on Taylor. Good walk to CTA stop (would not recommend walking it at night) and access to 157 and 12 bus. For a college student at UIC/Rush this would be ideal. Although, I will say the fourth bedroom was essentially a closet, hence why there was only three of us there. We kept it as an extra storage room/litter box room for my cats. Massive living room. Cat friendly. Mostly family/college student neighborhood.

Third apartment: 1 bedroom 1.5 bathroom in Wrigleyville/Boystown/Lakeview (Cornelia and Halsted) for $1400 (I share this apartment with my boyfriend). Pay electric and gas. Two story apartment, first floor is living room, half bathroom, and kitchen, take the spiral staircase downstairs to bedroom and full bathroom. Close to grocery store, coffee place 800 feet away, awesome neighborhood (does get quite loud at night). Close to CTA stop and 8 bus. I do have permit parking ($120 per year including city sticker) and can find street parking within at least four blocks at all times UNLESS there is a cubs game, in which it will take you a while. Good sized apartment for two people, seems like way too much for a single person (there are five closets in total). Cat and dog friendly.