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It’s official: Chicago is expensive.

RELATED: Chicago has one of the cheapest peak happiness rankings in the U.S.

According to an new report by SmartAsset, a personal finance technology company, the average cost of a two-bedroom apartment in Chicago is now $2,254 per month.


Analysts agree the rate translates into families needing about $90,000 to live comfortably in the Windy City.

This is nearly $15,000 more than the SmartAsset report estimated Chicaogans needed in 2016 and 2015.

But it’s not all costly news for Chi Town real estate: according to a study by HSH Associates, a mortgage tools company, the housing market is much cheaper, with experts estimating families needing around $60,000 per year to own a home or condo.

Chicago also isn’t the most expensive city in the nation based on the data:

Screen shot of curbed.com
Screen shot of curbed.com

But who wants to live in Phoenix?

RELATED: According to the latest rankings, Chicago is the 4th most international city in the world – even more than Hong Kong and New York

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