Chicago vs New York City
Cost of Living (2026)

Chicago is 75% less expensive than New York City.

Enter your salary → get exact comparison

At a glance

Chicago, IL

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

New York City, NY

COL index187
State income tax6.85%
Avg 1BR rent$3,400/mo
Median home price$750K

Cost breakdown by category

CategoryChicago indexNew York City indexDifference
Housing139 ✓247+108%
Groceries101 ✓175+74%
Transportation102 ✓173+71%
Healthcare104 ✓180+76%
Utilities101 ✓164+63%

Source: C2ER Cost of Living Index 2026. Index = 100 is US average. ✓ indicates lower cost. How we calculate this →

Salary equivalency: Chicago → New York City

What salary in New York City gives you the same purchasing power as your Chicago salary?

Salary in ChicagoEquivalent in New York CityDifference
$60,000$108,000+$48,000
$80,000$144,000+$64,000
$100,000$180,000+$80,000
$130,000$234,000+$104,000
$150,000$270,000+$120,000
$200,000$360,000+$160,000

Chicago vs New York City: Full Cost of Living Comparison (2026)

When comparing the cost of living between Chicago, IL and New York City, NY, Chicago comes out significantly more affordable with a COL index of 107 versus 187 for New York City — a difference of approximately 75%.

State income tax impact

Chicago workers pay 4.95% Illinois state income tax, while New York City workers pay 6.85%.

Housing costs

The median home price in Chicago is $330,000, compared to $750,000 in New York City. Average 1-bedroom rent is $1,650/month in Chicago versus $3,400/month in New York City.

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