How Much Money Does Single Person Need To Live In Chicago?

The Breakdown Of Cost Of Living In Chicago For One Person

How much does it really cost for a single person to live in one of the most exciting cities in the U.S.? Whether you're planning on making Chicago your home or just need an idea of what city life could look and feel like, you definitely need to know what awaits you. Everything from rent to groceries, transportation, and even entertainment can vary greatly and add up rather fast in Chicago. So, is it affordable or out of reach? Let's break it down.

The Cost Of Utilities

Rent isn't your only expense—you will have to consider utilities, too. The weather in Chicago can be quite extreme, so you can expect to need heat in the winter months and air conditioning in the summer months.

The average person can estimate costs of $100 to $150 per month for electricity, heating and cooling, water, and garbage pickup. Depending on the chosen speed, Internet service can cost an additional $50 to $80 per month.

Eating Out Vs. Eating In

Grocery expenses in Chicago are on average what one would expect to find in a big city. For one person, it is possible to spend anywhere between $250 and $400 a month based on eating and buying food. In general, stores such as Aldi, Jewel-Osco, and Trader Joe’s are usually cheap, while Whole Foods and Mariano’s are relatively expensive.

If you frequently dine out, the expenses can quickly accumulate. A meal in a middle-of-the-range restaurant is likely to cost between $15 and $30 per person, and even if you decide to take something from the fast food joints, you will be looking at spending between $10 and $15 for a meal. Should you opt for a semi-decent restaurant for dinner? It should cost you at least $50 for meals and drinks.

Insurance For Health Care And The Cost Of Medical Care

Another big cost that depends on your job is health insurance. No matter what kind of insurance you have through your job, the monthly fee could be anywhere from $100 to $300 depending on your policy. If you buy it by yourself, it can cost between $400 and $600 a month, which is a lot more.

Other costs include going to the doctor, getting prescription drugs, and paying other medical bills. Because of this, medical costs must be taken into account.

Other Monthly Expenses

Apart from the necessities, there are several other costs that can hurt your wallet pretty badly.

Phone Bill: $50–$100 bucks a month

Streaming Services: 10–50 dollars per month

Laundry (If Not In-Unit): $10–$30 per month

Home Essentials: $20–$50 per month

When it comes to cleaning, there are also times that cleaning the area is quite challenging and may need the services of a professional cleaner. Deep Cleaning Chicago may cost depending on the size and extent of the cleaning required.

Can You Afford To Live In Chicago Alone?

Sure, it is expensive, but Chicago has a lot to offer, really. The city is full of culture, job opportunities, and exciting things to do. Whether you love food, music, sports, or history, Chicago has something for everyone. If you are considering relocation, then this is all about the planning of your finances. Knowing approximately how much one is likely to spend will help them make informed financial decisions and be able to do everything this city has to offer without breaking the bank. Would you move to Chicago? Let us know what you think!