Living costs can add up quickly, and it’s important to know what those expenses may look like. While setting up your budget for living in Chicago, you’ll need to consider how much your monthly electric bill will cost.

While this expense varies from home to home and person to person, we’re here to take a look at the average electric bill in Chicago.

The Average Electric Bill in Chicago

Your electric bill accounts for the total cost of the energy you use within your home on a monthly basis. This means that power usage will affect your bills, such as how often you run your dishwasher or AC.

When it comes to electricity, people in this city spend roughly around $132 a month, which is 15 percent lower than the national average. Additionally, a recent Illinois bill is helping to reduce electricity costs for Windy City consumers. In fact, Illinois residents can expect to see roughly 12 percent lower electric bills thanks to the new law.

When estimating electricity bills, keep in mind that they can depend largely on your living situation. If you’re an owner of a single-family home, you will likely have more square footage and use more electricity than an individual living in a smaller studio apartment.

Seasons may affect your spending on electricity as well. Most residents find that their bills increase significantly in the middle of winter or summer when extra air conditioning or heat is needed more. However, in the winter months, your heat will only affect your electric bill if the primary source is powered by electricity. Some homes are powered by gas.

The cost of utility bills, including electricity, water, and gas, also depends on the provider. Homeowners and sometimes renters are responsible for choosing the company to service utilities. So, as you’re in the research phase, it’s helpful to compare deals and offerings to find the best utility companies.

As you budget for your home expenses, be sure to consider the average electric bill in Chicago as well as the other factors that impact this cost. Also, remember that there are ways to be mindful and reduce the energy you use.

Follow the link below to uncover more living expenses you’ll need to consider when residing in Chicago!