New York City vs Chicago
Cost of Living (2026)

Chicago is 43% more affordable than New York City.

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At a glance

New York City, NY

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

Chicago, IL

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

Cost breakdown by category

CategoryNew York City indexChicago indexDifference
Housing247139 ✓-108%
Groceries175101 ✓-74%
Transportation173102 ✓-71%
Healthcare180104 ✓-76%
Utilities164101 ✓-63%

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

Salary equivalency: New York City → Chicago

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

Salary in New York CityEquivalent in ChicagoDifference
$60,000$33,000$-27,000
$80,000$44,000$-36,000
$100,000$56,000$-44,000
$130,000$72,000$-58,000
$150,000$83,000$-67,000
$200,000$111,000$-89,000

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

When comparing the cost of living between New York City, NY and Chicago, IL, Chicago comes out significantly more affordable with a COL index of 107 versus 187 for New York City — a difference of approximately 43%.

State income tax impact

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

Housing costs

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

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