How much do households in the Chicago, IL area spend on rent?
Data updated September 16, 2024
About 30.4% in 2018–2022 for a typical household. This was measured by comparing median gross rent, which includes rent and utilities, and median monthly income for renting households. A median, like an average, is a measure of a typical value in a set of numbers.
Showing data for
In 2018–2022, median rent was
30.4%
of median income
In 2018–2022,
$1.31K
was the median rent per month
Comparing rent to renter income provides one measure of rental affordability. Chicago, IL area median rent was about $1.31K per month in 2018–2022. Typical monthly income among renting households was about $4.31K per month during that same period.
A typical household spent about $1.31K on rent in the Chicago, IL area.
Median rent and median renter household income, 2018–2022
Dividing rent by income provides what is called a rent-to-income ratio. A higher ratio of rent-to-income indicates rent is less affordable while a lower ratio indicates greater affordability.
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The Department of Housing and Urban Development considers households with a rent-to-income ratio of more than 30%, that is, households that spend more than 30% of their income on housing, to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings. When median monthly rent is more than 30% of average monthly income, it means a typical household would meet the definition of housing cost-burdened.
Chicago, IL area's rent-to-income ratio ranked 6 out of 10 Illinois metros.
Ratio of median rent to median renter household income, 2018–2022
Compared to other metro areas in Illinois, the Chicago, IL area had the highest median rent and highest median renter-household income. Out of the ten metros in the state, its rent-to-income ratio ranked fifth lowest.
Renter income and rent, Illinois metro areas (2018–2022)
| 1. | Bloomington, IL area | $3,016 |
| 2. | Carbondale, IL area | $2,451 |
| 3. | Champaign, IL area | $2,887 |
| 4. | Chicago, IL area | $4,308 |
| 5. | Danville, IL area | $2,842 |
| 6. | Decatur, IL area | $2,778 |
| 7. | Kankakee, IL area | $3,100 |
| 8. | Peoria, IL area | $3,008 |
| 9. | Rockford, IL area | $3,013 |
| 10. | Springfield, IL area | $3,179 |
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
Page sources
USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.
United States Census Bureau
Population Estimates Program and 2 others
