Contemplating a move to Chicago? Join the party! Residents move here from every state in the country. In fact, the top five cities that people are leaving in favor of Chicago include New York, San Francisco, Pittsburgh, Houston, and Los Angeles.
But before your move, you might be asking yourself some questions, such as: What will it cost to live in Chicago? What is there to do? And how can I enjoy Lake Michigan?
Here are five key things you should know about relocating to the Windy City.
1. Cost of Living
It is expensive to live in a larger city, right? Well, not so fast. It depends on your perspective — where you’re coming from, that is. Compared to many other major cities, Chicago’s cost of housing relative to income is pretty competitive.
Average rent-to-income ratios vary around the country. A common benchmark is 30%, although it is often lower in rural areas and higher in urban ones. Even though Chicago is one of America’s largest cities, its rent-to-income ratio is about 28%. Compare that to Miami and Los Angeles, where the average rent-to-income ratio is more than 40%.
The average monthly rent for a two-bedroom apartment is the highest in San Francisco: $3,668. New York City is at $2,781 with Los Angeles close behind at $2,746. But in Chicago, the average rent for a two-bedroom apartment is $1,797.
2. Distinctive Neighborhoods
Chicago is divided into 77 community areas, which contain more than 200 neighborhoods total. Many of them have distinctive historic and ethnic identities. Some neighborhoods near the Loop are very well-known, including The Gold Coast, River North, and Wrigleyville.
Residents of Chicago’s Gold Coast enjoy world-class shopping and dining along North Michigan Avenue. The Magnificent Mile is one of the country’s preeminent upscale shopping areas. Residents of River North stroll the River Walk and hop on water taxis plying the Chicago River. Art and design lovers revel in distinctive architecture and trendy art galleries.
The South Loop is very close to the Museum Campus, Soldier Field, and McCormick Place. Hyde Park is the home of the University of Chicago. In September 2021, groundbreaking occurred for the Barack Obama Presidential Library, also in Hyde Park. And last, but certainly not least, Wrigleyville combines beautiful tree-lined streets with ample opportunities for dining and socializing. This is particularly true when the Cubs are playing at Wrigley Field!
3. A Great Place on a Great Lake
Lake Michigan is the only one of the Great Lakes lying entirely within the United States. Chicago residents gaze at it, swim in it, boat on it, fish in it, and run alongside it. Residents are also cooled by the lake when onshore winds develop during sultry summer days.
The 3,300-foot-long, 50-acre Navy Pier is a great place in a great city by a Great Lake, you might say. Hop aboard one of the 42 gondolas and savor the views from the 196-foot-high Centennial Wheel. Thanks to lodging and dining options, Navy Pier is also great for a memorable staycation. In the evening, enjoy views of the cityscape and twinkling lights reflecting on the water.
The Lakeshore Trail is an 18-mile-long asphalt ribbon hugging the city’s coastline. There are now sections devoted specifically to pedestrians and bicyclists. Try a three-hour dinner cruise, where you and your companions can combine delicious food with impeccable views. From April to October, fishing charters operate out of places like Belmont Harbor. Make memories fishing for lake trout, coho salmon, king salmon, and brown trout.
4. Cuisine, Culture, and Contests
When it comes to cuisine, Chicago delivers everything from highly-rated ethnic eateries to world-class restaurants. Chicago boasts 24 Michelin-rated restaurants and 58 Bib Gourmand recommendations. And, of course, Chicago’s famous deep-dish pizza is known around the world.
Is your idea of culture art, theater, opera, ballet, or the symphony? Whatever your preference, Chicago delivers. The Art Institute of Chicago is one of the world’s great art museums. The Chicago Symphony Orchestra is considered one of America’s “Big Five” symphonies. Major theaters include the Steppenwolf, Drury Lane, and Arie Crown. Witness the phenomenon known as The Blue Man Group at the Briar Street Theater. The Chicago Theatre is a legendary venue dating to 1921.
Prefer to cheer for a professional team? Chicago fields teams in all the major sports. Enjoy four seasons of thrills watching baseball’s Cubs and White Sox, basketball’s Bulls, hockey’s Blackhawks, and football’s Bears. And that’s not all: the Chicago Fire Football Club is an MLS team and the Chicago Sky competes in the WNBA.
Want to participate more than spectate? Enjoy an assortment of outdoor sports in the seven-mile-long, 1,208-acre Lincoln Park. There’s tennis, beach volleyball, rollerblading, boating, and even birding. Take advantage of the basketball courts, cricket and rugby pitches, or lacrosse fields.
The Sydney R. Marovitz Golf Course is an emerald green oasis routed along Lake Michigan. In addition to a variety of city courses, there are many more scattered throughout greater Chicago — more than 200 in all.
5. Weekend Getaways
Once you move to Chicago, you’ll want that occasional weekend getaway from Chicago. Many great weekend escapes are fewer than three hours from the city. To the southwest, hike amid dramatic topography and waterfalls at Starved Rock State Park. You can also explore welcoming enclaves along Lake Michigan. Head north to Wisconsin’s Door County. Or, head east around the southern tip of the lake until you reach Michigan beach communities like New Buffalo, St. Joseph, and Saugatuck.
About Draper and Kramer
Draper and Kramer is a family-owned and operated real estate services firm founded in 1893. You’ll find Draper and Kramer’s luxury apartment properties in Chicago neighborhoods like Wrigleyville, River North, the Gold Coast, and the South Loop. Visit our website today to browse our entire selection of apartments in Chicago.
Compared to many other major cities, Chicago’s cost of housing relative to income is pretty competitive. Residents move here from every state in the country. In fact, the top five cities that people are leaving in favor of Chicago include New York, San Francisco, Pittsburgh, Houston, and Los Angeles.
