Salary Needed to Live in Chicago as a Family
A family of four (2 adults, 2 children) needs approximately $62,725/year to live comfortably in Chicago, IL — including 15% savings.
Comfortable Salary
$62,725
with 15% savings
Bare Minimum
$50,011
no savings buffer
Monthly Expenses
$3,084
6% above national avg
Detailed Monthly Budget for a Family in Chicago
| Expense | Chicago | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 3BR Apartment/House Rent | $253 | $209 | +21% |
| 🛒 Groceries | $61 | $44 | +39% |
| ⚡ Utilities | $22 | $28 | -21% |
| 🚗 Transportation | $39 | $44 | -11% |
| 🛡️ Car Insurance | $158 | $211 | -25% |
| 🏥 Health Insurance | $56 | $53 | +6% |
| Childcare/After-school | $1,284 | $1,200 | +7% |
| Internet + Phones | $193 | $180 | +7% |
| Children Activities | $268 | $250 | +7% |
| Dining Out | $375 | $350 | +7% |
| School Supplies & Clothing | $214 | $200 | +7% |
| Healthcare Co-pays | $161 | $150 | +7% |
| Total Monthly | $3,084 | $2,919 | +6% |
How We Calculated the Salary
Monthly expenses:$3,084
Target savings (15%):$683/mo
Monthly after-tax needed:$3,767
Effective tax rate:26%
Gross annual salary needed:$62,725
Other Household Types in Chicago
Related Pages
FAQ
What salary does a family with kids need in Chicago?
A family with kids needs approximately $62,725/year ($5,227/month gross) to live comfortably in Chicago with a 15% savings rate.
How much is rent for a family with kids in Chicago?
A 3br apartment/house in Chicago costs approximately $253/month, which is the largest single expense at 8% of the total budget.
Is Chicago affordable for a family with kids?
Chicago is roughly average for family with kids costs, requiring a salary close to the national median.