Chicago Money Calculators
18 free calculators built on Chicago's own tax, housing and insurance rules — each with the reasoning explained.
Chicago at a glance
| State and local income tax | Illinois flat 4.95% |
|---|---|
| Take-home on $100,000 (single, no deductions) | $74,375 |
| Property tax | Cook County taxes residential property on 10% of market value, multiplied by the state equalization factor (3.0300 for 2025), minus exemptions such as the $10,000 homeowner exemption, then times the composite rate of every district on your tax code. |
| Government closing taxes on a $500,000 purchase (buyer + seller) | $4,500 |
| Transit | CTA: about $75 a month |
| Auto insurance minimum | Liability 25/50/20 ($25,000 per person, $50,000 per accident bodily injury; $20,000 property damage) plus uninsured motorist 25/50. |
Income taxes in Chicago
Illinois taxes all income at a flat 4.95% after a personal exemption of $2,925 per person for 2026 (lost above $250,000 of income, or $500,000 for joint filers). Chicago itself has no income tax, so a Chicago paycheck carries federal tax, FICA and the state's flat tax.
Illinois has no state disability or paid-leave payroll deduction for employees. Chicago's paid leave ordinance requires employers to provide paid leave, but it is funded by the employer, not a paycheck deduction.
Housing: renting and buying
Chicago offers big-city living at lower prices than the coasts. Lakefront neighborhoods such as Lincoln Park and Lakeview cost more, while Logan Square, Pilsen, Bridgeport, Rogers Park and Beverly offer lower rents. Two-flats and condos are common housing types.
Cook County taxes residential property on 10% of market value, multiplied by the state equalization factor (3.0300 for 2025), minus exemptions such as the $10,000 homeowner exemption, then times the composite rate of every district on your tax code. Chicago's effective rate often lands around 2% of market value.
Closing costs and transfer taxes
Chicago stacks four transfer taxes: the city's $3.75 per $500 paid by the buyer, the CTA portion of $1.50 per $500 paid by the seller, and Cook County ($0.25) and Illinois ($0.50) per $500, customarily paid by the seller. Together they are about 1.2% of the price.
Getting around
The CTA's 'L' trains and buses make car-free living realistic in much of the city, with a 30-day pass at $75. Street parking often requires a zoned residential permit, and a city vehicle sticker is required for Chicago residents who own a car.
Insurance and everyday costs
Illinois requires 25/50/20 liability plus uninsured motorist coverage. Chicago premiums are higher than downstate because of theft, weather and traffic density.
Full-time infant care in Chicago is expensive, while Chicago Public Schools offers free full-day pre-K for many four-year-olds. The Illinois Child Care Assistance Program (CCAP) helps eligible working families pay for care.
Chicago's rents and home prices are moderate for a city its size, but high sales tax and property tax add to the cost of living.
How to use the Chicago calculators
Every tool below uses Chicago's own rules — the Illinois tax engine for paychecks, the Cook County Assessor's Office's method for property tax, and local transfer taxes for closing costs. Start with the paycheck calculator to see real take-home pay, then use the housing tools to test rents or home prices against it. Each result comes with a Reasoning box that explains which rule mattered most.
Income & Taxes
Housing & Real Estate
Insurance & Everyday Costs
Chicago Special Tools
Frequently asked questions
Does Chicago have a city income tax?
No. Chicago does not levy a personal income tax; see the paycheck calculator for state taxes.
How much is take-home pay on $100,000 in Chicago?
About $74,375 a year for a single filer with no pre-tax deductions, based on 2026 rules.
Where do the Chicago numbers come from?
Tax rates and rules come from official sources such as the IRS, the Illinois Department of Revenue and the Cook County Assessor's Office. Cost estimates such as typical rent are Rate and Reason starting points that you can replace with your own numbers.