Quality of Life Assessment for a Chicago Resident Earning $87,635

Overview

Living in Chicago, Illinois, on an income of $87,635 per year provides a comfortable lifestyle with access to diverse amenities and services. Below, we outline various facets of the quality of life relative to the cost of living and housing affordability compared to the broader United States.

Cost of Living

• Comparison to National Average: Chicago’s cost of living is slightly above the national average. It is particularly elevated in housing and transportation costs.
• Expenses:
  • Groceries: Generally in line with the national average.
  • Utilities: Slightly higher than average, reflecting regional climate variations.
  • Transportation: Public transportation is efficient but can be costlier than in smaller cities.

Housing Market

• Median Home Prices:
  • As of recent data, the median home price in Chicago is higher than the national median but not excessively so, providing several affordable options compared to cities like New York or San Francisco.
• Renting vs. Buying:
  • Renting is a popular option, with a variety of neighborhoods offering different price points.
  • Homeownership may require larger budget allocations but is feasible with the given income.

Quality of Life

• Cultural and Recreational Amenities:
  • Chicago offers a vibrant cultural scene, with numerous museums, theaters, and a dynamic dining environment.
  • Green spaces like Millennium Park and Lake Michigan shores offer ample recreation.
• Safety:
  • While some areas may face safety challenges, many neighborhoods are considered safe and family-friendly.

Access to Healthcare

• Healthcare Facilities:
  • Chicago is home to some of the country's top hospitals and healthcare providers.
  • Access to quality healthcare is robust, but costs can be higher than average.

Quality of K-12 Schools

• Public Schools:
  • Mixed ratings, with some schools performing well while others struggle.
  • A high-income area typically correlates with better school ratings.
• Private and Charter Schools:
  • Numerous alternatives to public schools are available, offering quality education options at varying costs.

Summary

Living in Chicago on an income of $87,635 provides a robust quality of life, characterized by vibrant cultural amenities, good accessibility to healthcare, and diverse education options. While the cost of living is slightly above the national median, especially in