Chicago is expensive by national standards but cheaper than New York, Los Angeles, San Francisco or Boston. Apartment List’s November 2026 report puts the city’s median rent at $1,858 (one-bedroom $1,723), Chicago’s combined sales tax has been 10.5% since August 1, 2026, and Illinois charges a flat 4.95% income tax. The U.S. Bureau of Economic Analysis put overall Chicago-area prices at 103.6% of the national average in 2024.
| Cost | 2026 figure |
|---|---|
| Median rent, all units | $1,858 (Apartment List, Nov. 2026) |
| Median one-bedroom / two-bedroom | $1,723 / $1,875 |
| Combined sales tax in Chicago | 10.5% (since Aug. 1, 2026) |
| Illinois income tax | 4.95% flat |
| CTA 30-Day pass | $75 |
| Metra Monthly Pass, zones 1-2 | $75 |
| City Sticker (most cars) | $105.18/year |
| Overall price level, Chicago metro (BEA, 2024) | 103.6 (U.S. = 100) |
Rent in Chicago
Apartment List’s November 2026 report lists Chicago’s median rent at $1,858, up 3.4% from a year earlier. Chicago ranks 20th in median rent among the 100 largest U.S. cities.
The city’s median is 34% higher than the national median of $1,384. It is also about 7.5% higher than the Chicago metro median of $1,729.
Rent by area
Rents swing widely by neighborhood. These ZIP-level medians come from RentHop listing data from mid-2026, so treat them as a guide rather than an exact price.
| ZIP code (area) | Studio | One-bedroom | Two-bedroom | Data month |
|---|---|---|---|---|
| 60601 (east Loop) | $1,935 | $2,750 | $4,400 | June 2026 |
| 60614 (Lincoln Park) | $1,850 | $2,695 | $3,700 | July 2026 |
| 60647 (Logan Square, Bucktown) | $1,623 | $2,250 | $2,650 | July 2026 |
| 60625 (Albany Park, Lincoln Square area) | $1,438 | $1,799 | $2,200 | July 2026 |
| 60608 (Pilsen, Bridgeport area) | $1,550 | $1,700 | $1,900 | August 2026 |
In this sample, a median one-bedroom in ZIP 60601 costs about $1,050 a month more than one in ZIP 60608.
Taxes
Sales tax
Chicago’s combined sales tax rose from 10.25% to 10.5% on August 1, 2026. The increase came from a 0.25-point rise in the regional transit sales tax in Cook County, which now goes to the Northern Illinois Transit Authority.
| Piece | Rate |
|---|---|
| State of Illinois | 6.25% |
| Cook County | 1.75% |
| City of Chicago | 1.25% |
| Regional transit (Cook County) | 1.25% |
| Total | 10.5% |
The Illinois Policy Institute ranks Chicago’s rate second-highest among major U.S. cities, behind Seattle.
Income tax
Illinois taxes individual income at a flat 4.95% of net income, a rate in effect since July 1, 2017.
Property tax
Property taxes are handled by Cook County. The Assessor reassesses Chicago properties every three years; the City was reassessed in 2024 and is next due in 2027.
The Illinois Department of Revenue sets a county-wide equalization factor, the County Clerk sets tax rates, and the Treasurer sends bills. Homeowners who live in their property can claim the Homeowner Exemption, which cuts the equalized assessed value by $10,000.
Transportation costs
Your transportation costs depend on whether you keep a car. Compare the main options below.
| Option | 2026 cost |
|---|---|
| CTA bus ride / L ride | $2.25 / $2.50 |
| CTA 30-Day pass | $75 |
| Metra Monthly Pass | $75 (zones 1-2) to $135 (zones 1-4) |
| Divvy Annual membership | $143.90 |
| City Sticker | $105.18 (most cars) |
| Neighborhood street meters | $2.50/hour |
The CTA, Metra and Pace kept 2026 fares unchanged after the state passed a transit funding law in late 2025. See CTA buses, Metra, Divvy and driving and parking.
Utilities
ComEd delivers electricity and Peoples Gas delivers natural gas in Chicago. Ask for recent bills before signing a lease, especially for winter heating.
The City of Chicago bills water and sewer service, plus a garbage fee for properties with City trash pickup. Ask whether your lease includes water.
Chicago vs. other big cities
The BEA’s Regional Price Parities compare price levels across metro areas, with the U.S. average set at 100. These are the 2024 figures, the latest published.
| Metro area | All items (2024) |
|---|---|
| San Francisco-Oakland | 115.6 |
| Los Angeles-Long Beach-Anaheim | 113.6 |
| New York-Newark-Jersey City | 112.6 |
| Boston-Cambridge-Newton | 108.3 |
| Chicago-Naperville-Elgin | 103.6 |
| Houston-The Woodlands-Sugar Land | 98.6 |
Chicago’s housing index was 112.0 in 2024, so housing sits further above the national average than overall prices do. Overall, Chicago-area prices were about 5 to 12 points below the coastal metros in the table.
Frequently asked questions
What is the sales tax in Chicago in 2026?
10.5%, since August 1, 2026. It combines 6.25% state, 1.75% Cook County, 1.25% city and 1.25% regional transit tax.
What is the Illinois income tax rate?
A flat 4.95% of net income, in effect since July 1, 2017.
How much is rent in Chicago?
Apartment List’s November 2026 median is $1,858 for all units, $1,723 for a one-bedroom and $1,875 for a two-bedroom.
Is Chicago cheaper than New York?
Yes, by the BEA’s 2024 price index: the Chicago metro scored 103.6 and New York 112.6, where 100 is the U.S. average.
How much does public transit cost per month in Chicago?
A CTA 30-Day pass costs $75. A Metra Monthly Pass costs $75 to $135 depending on zones.
How often are Chicago property taxes reassessed?
Every three years. Chicago was reassessed in 2024 and is scheduled again for 2027.
Related guides
- Moving to Chicago
- Living in Chicago
- Chicago economy
- Chicago community areas
- CTA buses
- Driving and parking in Chicago
Sources
- Apartment List: Chicago rent report (November 2026)
- RentHop: 60601, 60614, 60647, 60625, 60608
- Illinois Policy: Transit sales tax hike pushes Chicago to 10.5% (July 29, 2026)
- NBC Chicago: Several Chicago-area counties have a new sales tax hike (Aug. 3, 2026)
- Barrington Hills Observer / Illinois Policy: sales tax components (Nov. 2025)
- Illinois Department of Revenue: Income tax rates
- Cook County Assessor: The Cook County property tax system
- Cook County Assessor: Homeowner Exemption
- FRED/BEA Regional Price Parities: Chicago all items, Chicago housing, New York, Los Angeles, San Francisco, Boston, Houston
- CTA: Fares and Metra: Fare table
- Chicago City Clerk: City Sticker FAQs
Last updated: October 31, 2026