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Cost of Living: Chicago, IL vs New York, NY

A data-driven comparison of housing, groceries, transportation, taxes, job market and more. See which city gives you more for your money.

35.5% New York, NY is more expensive overall
85.7% 85.7% more expensive housing
11.5% 11.5% more expensive groceries
Updated April 2026 · Data: Bureau of Labor Statistics, U.S. Census Bureau National average = 100

At a Glance

🏠 Housing 85.7% more
Chicago
105
New York
195
🛒 Groceries 11.5% more
Chicago
104
New York
116
🚗 Transportation 14.0% more
Chicago
114
New York
130
🏥 Healthcare 11.7% more
Chicago
103
New York
115
⚡ Utilities 10.9% more
Chicago
101
New York
112

Detailed Breakdown

Category Chicago, IL New York, NY Difference
Overall Cost Index10714535.5% more
Housing10519585.7% more
Median 1BR Rent$1,700$3,20088.2% more
Median Home Price$310,000$750,000141.9% more
Groceries10411611.5% more
Transportation11413014.0% more
Healthcare10311511.7% more
Utilities10111210.9% more

Tax Comparison

Tax Type Chicago, IL New York, NY
State Income Tax4.95%10.90% (top)
State Sales Tax6.25%4.00%
Avg Property Tax Rate1.95%1.40%
Estate / Inheritance TaxYesYes

What You'd Need to Earn

Chicago, IL
$74,000
Median household income
New York, NY
$115,000
Median household income
✅ Good news: Income in New York outpaces the cost difference, so your purchasing power should hold up.

Salary Equivalent Calculator

Find out what you'd need to earn in New York to maintain your Chicago lifestyle.

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Based on overall cost index: Chicago (107) vs New York (145). This is an estimate for comparison purposes.

Job Market Snapshot

Unemployment Rate
Chicago4.8%
New York5.1%
Job Growth (YoY)
Chicago2.1%
New York2.8%
Top Industries
ChicagoFinance, Manufacturing, Healthcare
New YorkFinance, Media, Tech

Quality of Life

Avg Commute
Chicago35 min
New York41 min
Walk Score
Chicago78
New York89
Air Quality (AQI)
Chicago44
New York48
Avg Temperature
Chicago50°F
New York55°F
Population
Chicago2,665,039
New York8,258,035

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Planning Your Move?

Here are some helpful resources if you're considering relocating.

🏠 Find ApartmentsBrowse rentals in Chicago and New York → 🚚 Get Moving QuotesCompare prices from top movers → 📈 Check Home ValuesSee real estate trends in both cities → 💼 Search JobsFind open positions in New York →

Compare Other Cities

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Frequently Asked Questions

Is Chicago or New York cheaper to live in?+
Chicago is the more affordable option overall. The biggest difference is in housing costs, where the gap is about 85.7%. Day-to-day expenses like groceries and transportation are closer between the two cities.
How much is rent in Chicago vs New York?+
A typical one-bedroom apartment costs around $1,700/month in Chicago and $3,200/month in New York — a difference of about $1,500 per month.
Which city has lower taxes, Chicago or New York?+
Illinois has a state income tax of 4.95% and sales tax of 6.25%. New York has a state income tax of 10.90% (top) and sales tax of 4.00%. Consider all tax types together when evaluating total tax burden, as states with no income tax often compensate with higher sales or property taxes.
Can I afford to move from Chicago to New York?+
Median household income in Chicago is $74,000 compared to $115,000 in New York. Use the salary calculator above to see what you'd need to earn to maintain your current standard of living.
What about buying a home in Chicago vs New York?+
The median home price in Chicago is $310,000 versus $750,000 in New York — a difference of $440,000. Property tax rates also differ: Illinois averages 1.95% while New York averages 1.40%.