Annual household income in Chicago is $96,600. This amount, according to a new report from financial services company SmartAsset, allows you to safely budget to remove one-bedroom apartment in Chicago. Compared to the previous year, the amount increased by more than $20,000 ( in 2016 that would take $76,071).
Chicago ranks fourth in the list of 15 most expensive cities.
In first place is San Francisco ($179,529), followed by new York ($164,614) and Boston ($135,686). Compared to last year, Chicago was «jumped» from eighth place to sixth.
The average rent for a one bedroom apartment in Chicago is $2,254 (in San Francisco- $4,189)
According to this report, the cost of the lease as a whole complies with the Federal standards.
The Ministry of housing and urban development relates to affordable housing is that the cost of rent and utilities which amount to no more than 30% of income. SmartAsset gives a figure of 28%. The report used data from the site with a list of rental housing Rentcafe.
Another recent report indicates that although the rent in Chicago is higher than the national average, however the city is not in the top 10 cities with the most expensive rent for a Studio apartment.
