AnswerIn Chicago, the median household income is $75,134. To rank in the top 20%, you need to earn more than $160,921. Top 5%: $452,000.
Median: $75,134 · Top 20%: $160,921 · Top 5%: $452,000
Source: US Census Bureau, American Community Survey 2023 5-Year Estimates
Chicago income percentile [2026]
Where Chicago, Illinoishouseholds rank by income — sourced from the US Census Bureau's American Community Survey 2023 5-year estimates, covering roughly 2,707,648 residents.
In Chicago, IL, the median household income is $75,134. The bottom 20% earns under $26,059; the top 20% threshold is $160,921; the top 5% starts at $452,000. Median rent is $1,380/month and the median home value is $315,200. A $100,000 household income ranks at roughly the 61th percentile locally.
Key stats for Chicago
Income percentile breakpoints
- 20th percentile (bottom quintile)
- $26,059
- 40th percentile
- $57,007
- Median (≈ 50th–60th percentile)
- $96,044
- 80th percentile (top 20%)
- $160,921
- 95th percentile (top 5%) — estimated
- $452,000
Source: US Census Bureau, American Community Survey 2023 5-Year Estimates. City-level p60 is used as the “median-ish” row because ACS quintile upper limits bracket the household median near p60 for most big US cities. The Census Bureau top-codes its top-5% figure at $250,001 for high-income cities, so the 95th-percentile value here is estimated by fitting a Pareto tail to Chicago's lower (un-top-coded) quintile breakpoints. Treat it as a modeled upper-tail benchmark, not a published ACS figure.
Local economic context
Chicago's income picture is a case study in why headline home prices lie. The economy still has real anchors — United Airlines at Willis Tower, Boeing's shift of its HQ to Arlington, VA notwithstanding, Abbott and AbbVie in North Chicago, Walgreens Boots Alliance in Deerfield, Northern Trust and Citadel's remaining footprint in the Loop, and a dense finance layer at CME Group and the exchanges. The West Loop Google expansion and Kenzie Academy-style tech growth hasn't yet produced Bay Area comp, but engineering salaries at $160-$220K are now routine. Healthcare is enormous: Northwestern Memorial, Rush, and UChicago Medicine. The caveat Chicago bulls never admit: Cook County's property taxes effectively function as a second mortgage. A $500K single-family in Lincoln Square or Oak Park can carry a $12,000-$15,000 annual tax bill, which capitalizes into depressed prices and a punishing monthly carrying cost. Housing looks cheap versus NYC or SF, but the all-in cost narrows the gap sharply. Commute reality is the CTA Red Line (consistently the most-ridden, most-delayed) and the Metra schedule for North Shore and western suburb commuters who tolerate 45-70 minute one-ways. I-90/94 Kennedy congestion into the Loop is chronic. The cost-of-living caveat: BEA RPP puts Chicago metro near 101% of national, so the raw income number is roughly honest — but only if you account for Illinois' 4.95% flat state tax and Cook County's property-tax regime. A $150K salary stretches further here than in NYC or SF, but less than in Nashville or Austin once you net out property tax and the Illinois pension-funding overhang.
What this income feels like
Top 20% in Chicago means you can actually buy a 2BR condo in Lakeview or a small single-family in Logan Square or Portage Park without a trust fund. Rent for a nice West Loop 1BR runs $2,400-$2,900, and groceries at Mariano's feel reasonable after a visit to either coast. Winter is the tax you pay: February in Chicago means you'll spend $200/month on Lyft rides to avoid the windchill on the Blue Line platform. Childcare at a good Lincoln Park center is $2,200-$2,800/month. Property taxes on that starter house hit harder than the mortgage.
Top 20% reality check
- You can buy a 3BR single-family in Irving Park or Ravenswood without roommates or family help — a statement that's mathematically impossible in NYC, LA, or SF at the same income.
- Your property-tax bill on a $650K home runs $13K-$16K a year, which quietly erases the savings versus renting a luxury River North high-rise.
- A $200K household income clears top 20% citywide but feels middle-of-the-pack in Lincoln Park or the Gold Coast, where $2M townhouses are the neighborhood standard.
Cost-of-living reality
The median gross rent in Chicago is $1,380/month, or roughly 22.0% of the median household income on an annualized basis. The national rent-burden average is about 30%, and anything north of that is treated as rent-burdened by HUD. Chicago's median home value is $315,200, a price-to-income ratio of 4.2× — healthy markets run 3–4×, expensive coastal markets routinely exceed 6×. Mean one-way commute is 33.5 minutes, which compounds the real cost of living here for anyone not working remote.
Nearby cities
Chicago community discussions
Local subreddits where cost-of-living and income questions get answered by residents. External links, open in a new tab.
Frequently asked questions
What is a good income in Chicago?
In Chicago, IL, the median household income is $75,134. Earning above $96,044 puts you in the top 40%, and clearing $160,921 places you in the top 20%. A "good" income depends on household size and housing choice, but $160,921 is a useful upper-middle-class threshold for this city.
How does Chicago's median income compare to the US?
Chicago's median household income of $75,134 is about 4.3% lower than the US median of $78,538 (ACS 2023 5-year, matched to the city vintage). Raw comparisons understate local cost-of-living; Chicago's median rent of $1,380 and median home value of $315,200 are the relevant offsets.
What percentile is $100K in Chicago?
A household income of $100,000 ranks at roughly the 61th percentile in Chicago. That is interpolated from the local ACS quintile breakpoints: p20 $26,059, p40 $57,007, p60 $96,044, p80 $160,921, p95 $452,000.
Is Chicago expensive to live in?
Median gross rent in Chicago is $1,380/month, which is 22.0% of the median household income on an annualized basis — compared to the national rent-burden average of about 30%. The median home value is $315,200, a price-to-income ratio of 4.2× (healthy markets run 3-4×, expensive markets 6×+).
How is this calculated?
Figures come from the US Census Bureau's American Community Survey (ACS) 2023 5-year estimates for Chicago, Illinois. Income percentiles are city-level approximations derived from ACS B19080 household income quintile upper limits, interpolated from the local median and distribution. Rent burden uses B25071 (median gross rent as % of household income) and mean commute uses B08303.
Methodology & data sources
Calculations on this page use published benchmarks from US federal statistical agencies. Percentile breakpoints are interpolated linearly between published cells. Figures are in current-year USD unless noted. Numbers are educational estimates, not personalized financial advice.