Chicago Ridge, IL

Below Avg · 80

Illinois · Population 14,147 · Updated March 2026

$1,198
Median Rent / Month
$69,389
Median Income
$217,800
Median Home Value
$1,234
Owner Costs / Month

Affordability

How far your income goes in Chicago Ridge

20.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$14,376
Annual Rent
$3,435
State Income Tax
$4,508
Property Tax (est.)

Cost of Living Overview

Chicago Ridge is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 80 (where 100 equals the national median), Chicago Ridge residents can expect to pay median rent of $1,198/month while earning a median household income of $69,389/year.

The median home value in Chicago Ridge, IL is $217,800, with typical monthly owner costs around $1,234 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Chicago Ridge.

Frequently Asked Questions

Common questions about living costs in Chicago Ridge

What is the cost of living in Chicago Ridge, IL?
The cost of living index in Chicago Ridge, IL is 80 (US average = 100). Median monthly rent is $1,198, median household income is $69,389/year, and the median home value is $217,800.
Is Chicago Ridge, IL affordable?
Yes, Chicago Ridge is more affordable than the national average with a cost index of 80. The rent-to-income ratio is 20.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Chicago Ridge, IL?
The median gross rent in Chicago Ridge, IL is $1,198 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,376.
What is the median household income in Chicago Ridge?
The median household income in Chicago Ridge, IL is $69,389 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.