Chicago wins overall by ~43% (COL index)
Cost of living: Chicago vs New York (2026)
A $72,500 salary in Chicago buys roughly what $126,706 does in New York (COL-adjusted). Your real trade-offs are taxes, rent, and day-to-day prices — we break them down and personalize below.
Your move simulator
Tell us about your household — we calculate your real annual savings.
Estimated annual swing
+$28,480/yr
Favoring Chicago for this income & household (illustrative).
With the extra $2,373/mo, you could pay down a $15,000 card balance in ~7 months and still keep ~$285/mo for dining out.
Studio rent/mo
1BR rent/mo
2BR rent/mo
Median home price
Groceries index (100 = US avg)
Budget meal (1 person)
Mid-range dinner (2)
Monthly transit pass/mo
Gas price/gal
Car insurance/mo
Monthly utilities bundle/mo
Internet/mo
Median household income/yr
State income tax%
Sales tax (combined)%
Movie ticket
Gym membership/mo
Beer at restaurant
Overall COL index (100 = US avg)
Walk score / 100
| Category | Chicago Illinois | New York New York | Who wins | Your impact at $73K · 1br · 1 car |
|---|---|---|---|---|
| 🏠 HousingQ1 2026 | ||||
| Studio rent/mo | $1,500Wins | $2,800 | Chicago wins +$1,300/mo | $15,600/yr saves in Chicago |
| 1BR rent/mo | $1,900Wins | $3,500 | Chicago wins +$1,600/mo | $19,200/yr saves in Chicago |
| 2BR rent/mo | $2,600Wins | $4,800 | Chicago wins +$2,200/mo | $26,400/yr saves in Chicago |
| Median home price | $360KWins | $750K | Chicago wins +$390K | — |
| 🛒 Food & GroceriesQ1 2026 | ||||
| Groceries index (100 = US avg) | 102Better | 115 | Chicago wins +13 | — |
| Budget meal (1 person) | $15Wins | $20 | Chicago wins +$5/mo | — |
| Mid-range dinner (2) | $60Wins | $85 | Chicago wins +$25/mo | $300/yr saves in Chicago |
| 🚌 TransportationQ1 2026 | ||||
| Monthly transit pass/mo | $105Wins | $132 | Chicago wins +$27/mo | $324/yr saves in Chicago |
| Gas price/gal | $3.40 | $3.20Better | New York wins −$0.20 | — |
| Car insurance/mo | $165Wins | $285 | Chicago wins +$120/mo | $1,440/yr saves in Chicago |
| ⚡ UtilitiesQ1 2026 | ||||
| Monthly utilities bundle/mo | $165Better | $180 | Chicago wins +$15/mo | — |
| Internet/mo | $65Wins | $75 | Chicago wins +$10/mo | — |
| 💰 Income & TaxesQ1 2026 | ||||
| Median household income/yr | $67K | $78KWins | New York wins +$11K more/yr | — |
| State income tax% | 4.9%Wins | 6.9% | Chicago wins +2.0 pp | $1,450/yr saves in Chicago |
| Sales tax (combined)% | 10.3% | 8.5%Wins | New York wins -1.8 pp | — |
| 🎬 LeisureQ1 2026 | ||||
| Movie ticket | $16.00Better | $18.00 | Chicago wins +$2.00 | — |
| Gym membership/mo | $45Wins | $80 | Chicago wins +$35/mo | $420/yr saves in Chicago |
| Beer at restaurant | $7.00Wins | $9.00 | Chicago wins +$2.00 | — |
| 📊 OverviewQ1 2026 | ||||
| Overall COL index (100 = US avg) | 107Wins | 187 | Chicago wins +80 | — |
| Walk score / 100 | 78 | 88Better | New York wins +10 more/yr | — |
Complete the Picture
While you’re comparing — don’t leave money on the table.
Tax-smart rewards
Turn ~$1,452/yr tax difference into cash back
Chicago fits your move math — cash-back cards stack on groceries, gas, and dining you're already doing.
Home + auto bundle
New state — new insurance rates
Bundling often saves hundreds/yr. Compare before you sign a lease in Chicago.
High-yield savings
Park ~$19,200/yr rent savings at 4–5%+ APY
Don't let relocation cash sit at 0% — put it to work until closing day.
More ways to compare this move
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Open the full interactive tool to add up to 5 cities, drop in your salary, and see rent burden.
Open full interactive toolComplete the Picture
While you’re comparing — don’t leave money on the table.
If cash is tight
Knock down high-interest debt first
A move has upfront costs — a balance transfer or personal loan can lower APR while you settle in.
If you're saving big
Invest the surplus on autopilot
Brokerages and robo-advisors help you dollar-cost average into the market with your new slack.
Chicago offers Manhattan-caliber urban density at roughly 40% less in rent — with comparable winters. The catch: Illinois has one of the highest property tax rates in the US, which matters significantly if you're planning to buy.
Frequently asked questions
Is Chicago cheaper than New York?
Yes. Chicago is 43% cheaper than New York based on overall cost of living indices (107 vs 187, where 100 = US average).
What is the average rent in Chicago vs New York?
As of Q1 2026, the median 1-bedroom rent in Chicago is $1,900/month and in New York is $3,500/month. Chicago is cheaper by 46%.
How much do I need to earn in New York to match a $75,000 salary in Chicago?
To maintain a similar lifestyle, you would need approximately $131,075/year in New York to match a $75,000 salary in Chicago. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Chicago or New York?
Chicago has the lower state income tax rate at 4.9% vs 6.9%. The difference is 2.0 percentage points. Note that sales tax and local taxes also vary — see the full breakdown in the table above.
Is it worth moving from Chicago to New York?
It depends on your priorities. Chicago offers lower overall costs, but both cities have different job markets, weather, and lifestyle trade-offs. Use the comparison table above to evaluate rent, groceries, transportation, and income potential side by side based on your specific budget.
Data sourced from Zillow, BLS, Numbeo, Tax Foundation, and US Census ACS · Updated Q1 2026 · For general guidance only
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Salary equivalent: Chicago ↔ New York
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