Quality of Life in Chicago, IL on a $109,735 Annual Salary

Cost of Living

• Overall Living Costs: Chicago's cost of living is slightly above the national average but manageable on a $109,735 salary.
  • Transportation: Public transit options like the CTA are abundant and reduce personal vehicle expenses.
  • Utilities: Costs align closely with national averages, depending on usage and energy-efficient practices.

Housing Market

• Median Home Price: The median home price in Chicago is approximately $333,000 compared to the national median of around $391,000.
  • Affordability: Given the salary, purchasing a median-priced home is feasible, though factors such as location and property taxes must be considered.
  • Renting Options: Rent prices vary with neighborhoods; however, apartments in popular areas like Lincoln Park or the Loop may require a higher budget.

Quality of Life

• Entertainment and Dining: The salary allows for enjoying Chicago’s vast array of cultural activities, dining, and entertainment options.
• Public Services: Access to libraries, parks, and community events enhances living quality, providing numerous low-cost leisure opportunities.

Access to Healthcare

• Healthcare Facilities: Chicago boasts renowned medical centers, offering high-quality healthcare services across the city.
• Insurance Costs: Health insurance expenses can be managed within the salary, especially with employer-sponsored plans.

Quality of K-12 Schools

• Public School System: Chicago Public Schools offer varied educational opportunities with some high-performing schools, especially in more affluent neighborhoods.
• Private and Charter Schools: Numerous private and charter school options cater to diverse educational needs, although they may entail additional costs.

Summary

Living in Chicago on a $109,735 salary allows for a comfortable lifestyle balancing housing affordability and living expenses. The city offers diverse cultural experiences, high-quality healthcare, and varied educational opportunities while maintaining a generally high quality of life relative to the national average.