The cost of living in Illinois is 5.3% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in Illinois is $94,525 vs the national average for a family of four with two working parents of $89,744. The median income of a Illinois household is $68,428.
The average home price in Illinois is $202,100, which is lower than the US average home price of $229,800. Median rent in Illinois is $1,038/mo which is lower than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 3.0 to 1. That means it takes roughly 3.0 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Illinois has a high cost of living compared to America as a whole.
No, Illinois is not a dangerous state as it ranks as the #24 safest state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Illinois ranks 18th most dangerous in the United States -- 15.17% worse than US average violent crime rate. The property crime rate in the Prairie State ranks 38th most dangerous in the United States -- 20.21% better than US average property crime rate. The latest reporting year from the FBI was 2022.
Yes, Chicago is a dangerous city. Chicago ranks as the #116 most dangerous out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Chicago might be considered dangerous you still need to be aware of where you are. For example, Edison Park is the safest in Chicago, while West Garfield Park is considered dangerous by many based on recent crime stats.
Compared to other big cities, the violent crime rate in Chicago ranks 142nd highest in America -- 2.45% better than US average violent crime rate. The property crime rate in the ranks 102nd highest in the United States -- 14.81% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
The county in Illinois with the lowest cost of living is Kane County. The average living wage in Kane County is $100,148 according to MIT data. Kane County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Illinois as a whole. Childcare costs $20,904 a year in Kane County for two children compared to the Illinois average of $17,909. Housing costs, defined as a blend of the average rent and average mortgage payment, are $15,588 per year in Kane County compared to $13,649 on average in Illinois.
The cheapest housing market in Illinois is Park City. The average home value in Park City is $23,200, the lowest in the state. The average home value in Illinois is $202,100, almost 8.7 times higher than Park City.