Cook County · Illinois · Midwest · 2.7M residents
Chicago, IL: economy, jobs & business costs
The site-selection read on Chicago: labor costs, talent, corporate tax, energy, and business activity, with the Illinois median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: Curated city row; coverage varies by fact.
Average weekly wages in the surrounding labor market run $1,740/wk. Illinois's corporate income tax rate is 9.5%. Commercial electricity averages 11.8¢/kWh.
Compare Chicago side by side
Avg. weekly wage
$1,740/wk
Corporate income tax
9.5%
Bachelor's degree or higher
44.3%
Commercial electricity
11.8¢/kWh
Economic momentum
How fast Chicago's economy is moving, ranked against the US cities we track.
62/100
Steady
Ranks Chicago's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| Median home value | $360,000 |
| Price per sq. ft. | $240 |
| Property tax rate | 2.1% |
| 1-bedroom rent | $1,850/mo |
| 2-bedroom rent | $2,200/mo |
| State & local income tax | 4.95% |
| Sales tax | 10.25% |
| Corporate income tax | 9.5% |
| Avg. weekly wage | $1,740/wk |
| Bachelor's degree or higher | 44.3% |
| Commercial electricity | 11.8¢/kWh |
| Businesses per 1k residents | 26.5/1k |
| Wage: Software developer | $134,380 |
| Wage: Registered nurse | $100,490 |
| Wage: General manager | $109,390 |
| Wage: Customer service | $47,100 |
| Wage: Warehouse worker | $38,450 |
| Wage: Heavy truck driver | $62,300 |
| Wage: Electrician | $102,350 |
| Wage: Retail salesperson | $35,820 |
| Cost of living index | 106 |
| Groceries index | 102 |
| Utilities | $155/mo |
| Transit pass | $75/mo |
| Gas price | $3.90/gal |
| Healthcare index | 98 |
| Childcare (per child) | $1,500/mo |
| Median household income | $71,000 |
| Unemployment rate | 5.3% |
| Population | 2.7M |
| Crime index | 55/100 |
| School rating | 6.0/10 |
| Walkability | 77/100 |
| Disaster risk | 100/100 |
| Avg. commute | 35 min |
| Sunny days / year | 189 days |
| July high | 81°F |
| January low | 20°F |
| Annual snowfall | — |
| Home price YoY | +3.5% |
| Home price MoM | +0.2% |
| Rent YoY | +6.2% |
| Rent MoM | +0.5% |
| Employment (jobs) YoY | +1.1% |
| Building permits YoY | -10.4% |
| Ocean coast | 695 mi |
| Big lake | < 3 mi |
| Mountains | 341 mi |
| Major airport | 9 mi |
| Ski resort | 200 mi |
Popular comparisons
Nearby
- Cicero, IL · 83k
- Oak Park, IL · 53k
- Berwyn, IL · 56k
- Elmwood Park, IL · 24k
- Hanover Park, IL · 37k
Similar size
- Aurora, IL · 180k
- Naperville, IL · 151k
- Joliet, IL · 150k
- Rockford, IL · 148k
- Elgin, IL · 115k
Real listings in Chicago
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Chicago a good place to run a business?
- Illinois's corporate income tax rate is 9.5%; average weekly wages in the surrounding labor market run $1,740/wk; commercial electricity averages 11.8¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Chicago, IL?
- Chicago indexes at 106 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $2,200/mo and a median home value of $360,000.
- How much does a house cost in Chicago?
- The median home value in Chicago is $360,000 (compiled estimate; individual listings vary).
- How much is rent in Chicago?
- A two-bedroom in Chicago rents for about $2,200/mo.