Chicago vs Miami
Cost of Living (2026)

Chicago is 15% less expensive than Miami. Plus, Florida has no state income tax vs Illinois's 4.95%.

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At a glance

Chicago, IL

COL index107 ✓
State income tax4.95%
Avg 1BR rent$1,650/mo ✓
Median home price$330K ✓
VS

Miami, FL

COL index123
State income taxNone ✓
Avg 1BR rent$2,300/mo
Median home price$600K

Cost breakdown by category

CategoryChicago indexMiami indexDifference
Housing139 ✓161+22%
Groceries101 ✓116+15%
Transportation102 ✓116+14%
Healthcare104 ✓119+15%
Utilities101 ✓114+13%

Source: C2ER Cost of Living Index 2026. Index = 100 is US average. ✓ indicates lower cost.

Salary equivalency: Chicago → Miami

What salary in Miami gives you the same purchasing power as your Chicago salary?

Salary in ChicagoEquivalent in MiamiDifference
$60,000$64,000+$4,000
$80,000$85,000+$5,000
$100,000$107,000+$7,000
$130,000$139,000+$9,000
$150,000$160,000+$10,000
$200,000$214,000+$14,000

Chicago vs Miami: Full Cost of Living Comparison (2026)

When comparing the cost of living between Chicago, IL and Miami, FL, Chicago comes out significantly more affordable with a COL index of 107 versus 123 for Miami — a difference of approximately 15%.

State income tax impact

Florida has no state income tax, giving Miami workers an immediate 4.95% take-home pay advantage over Chicago workers who pay Illinois's 4.95% state income tax.

Housing costs

The median home price in Chicago is $330,000, compared to $600,000 in Miami. Average 1-bedroom rent is $1,650/month in Chicago versus $2,300/month in Miami.

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