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This question is about Chicago, IL.
What is a good salary in Chicago, IL?
A good salary in Chicago, IL is anything over $50,000. That's because the median income in Chicago is $50,000, which means if you earn more than that you're earning more than 50% of the people living in Chicago. The average salary in Chicago is $60,132.
A good hourly wage in Chicago is $24.04 per hour. That works out to a good weekly wage of $961 per week and a good monthly wage of $4,166 per month. However, using the median income is only one way to calculate a good salary in Chicago.
Another way to calculate a good salary in Chicago is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $258,000, a good salary in Chicago would be $51,600.
Lastly, we can determine a good salary in Chicago by looking at the cost of living and comparing it to the US average salary. The cost of living in Chicago is 11% higher than than the national average. The national average salary is $56,310, so a good salary in Chicago is anything over $62,504 by this measure.
Average Annual Salary in Chicago, IL
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $23,000 | $1,916 | $442 | $11.06 |
| 25th | $33,000 | $2,750 | $634 | $15.87 |
| Median | $50,000 | $4,166 | $961 | $24.04 |
| 75th | $75,000 | $6,250 | $1,442 | $36.06 |
| 90th | $108,000 | $9,000 | $2,076 | $51.92 |
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