Chicago wins overall by ~1% (COL index)
Cost of living: Providence vs Chicago (2026)
A $62,500 salary in Providence buys roughly what $61,921 does in Chicago (COL-adjusted). Your real trade-offs are taxes, rent, and day-to-day prices — we break them down and personalize below.
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Estimated annual swing
+$366/yr
Favoring Providence for this income & household (illustrative).
With an extra $30/mo in Providence, you could max a Roth IRA contribution faster and still grow your savings buffer.
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 | Providence Rhode Island | Chicago Illinois | Who wins | Your impact at $63K · 1br · 1 car |
|---|---|---|---|---|
| 🏠 HousingQ1 2026 | ||||
| Studio rent/mo | $1,400Better | $1,500 | Providence wins +$100/mo | $1,200/yr saves in Providence |
| 1BR rent/mo | $1,800Better | $1,900 | Providence wins +$100/mo | $1,200/yr saves in Providence |
| 2BR rent/mo | $2,400Better | $2,600 | Providence wins +$200/mo | $2,400/yr saves in Providence |
| Median home price | $370K | $360KBetter | Chicago wins −$10K | — |
| 🛒 Food & GroceriesQ1 2026 | ||||
| Groceries index (100 = US avg) | 105 | 102Better | Chicago wins -3 | — |
| Budget meal (1 person) | $16 | $15Better | Chicago wins −$1/mo | — |
| Mid-range dinner (2) | $65 | $60Better | Chicago wins −$5/mo | — |
| 🚌 TransportationQ1 2026 | ||||
| Monthly transit pass/mo | $75Wins | $105 | Providence wins +$30/mo | $360/yr saves in Providence |
| Gas price/gal | $3.40Better | $3.40 | — | — |
| Car insurance/mo | $168 | $165Better | Chicago wins −$3/mo | — |
| ⚡ UtilitiesQ1 2026 | ||||
| Monthly utilities bundle/mo | $195 | $165Wins | Chicago wins −$30/mo | $360/yr saves in Chicago |
| Internet/mo | $68 | $65Better | Chicago wins −$3/mo | — |
| 💰 Income & TaxesQ1 2026 | ||||
| Median household income/yr | $58K | $67KWins | Chicago wins +$9K more/yr | — |
| State income tax% | 6.0% | 4.9%Wins | Chicago wins -1.1 pp | $687/yr saves in Chicago |
| Sales tax (combined)% | 7.0%Wins | 10.3% | Providence wins +3.3 pp | — |
| 🎬 LeisureQ1 2026 | ||||
| Movie ticket | $16.00Better | $16.00 | — | — |
| Gym membership/mo | $48 | $45Better | Chicago wins −$3/mo | — |
| Beer at restaurant | $7.00Better | $7.00 | — | — |
| 📊 OverviewQ1 2026 | ||||
| Overall COL index (100 = US avg) | 108 | 107Better | Chicago wins -1 | — |
| Walk score / 100 | 72 | 78Better | Chicago wins +6 more/yr | — |
Complete the Picture
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Home + auto bundle
New state — new insurance rates
Bundling often saves hundreds/yr. Compare before you sign a lease in Chicago.
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Frequently asked questions
Is Providence cheaper than Chicago?
No. Chicago is 1% cheaper than Providence based on overall cost of living indices (107 vs 108, where 100 = US average).
What is the average rent in Providence vs Chicago?
As of Q1 2026, the median 1-bedroom rent in Providence is $1,800/month and in Chicago is $1,900/month. Providence is cheaper by 5%.
How much do I need to earn in Chicago to match a $75,000 salary in Providence?
To maintain a similar lifestyle, you would need approximately $74,306/year in Chicago to match a $75,000 salary in Providence. This estimate is based on overall cost of living indices and does not account for individual spending patterns.
Which city has lower taxes — Providence or Chicago?
Chicago has the lower state income tax rate at 4.9% vs 6%. The difference is 1.1 percentage points. Note that sales tax and local taxes also vary — see the full breakdown in the table above.
Is it worth moving from Providence to Chicago?
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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