Quick answer
Chicago is 90% cheaper than New York overall. A $100K salary in Chicago is equivalent to $190,000 in New York.
Cost of Living Comparison · 2026
Chicago vs New York Cost of Living (2026)
Side-by-side cost comparison plus a salary calculator to find your equivalent pay in either city.
Overall COL difference
Chicago is 90% cheaper
1BR rent difference
+73% (B vs A)
$100K in A = in B
$190,000
Chicago vs New York: Side-by-Side
1BR median rent
$1,850/mo
$3,200/mo
+73%
2BR median rent
$2,350/mo
$4,500/mo
+91%
Median home price
$340K
$750K
+121%
Avg monthly groceries
$390
$480
+23%
Avg monthly utilities
$155
$165
+6%
State income tax
4.95%
Up to 10.9%
Chicago saves
Walk score
78/100
88/100
New York better
Transit score
65/100
89/100
New York better
Salary Equivalency Calculator
How much you need to earn in New York to maintain the same standard of living as your current Chicago salary — and vice versa.
$60,000
$114,000
$32,000
$80,000
$152,000
$42,000
$100,000
$190,000
$53,000
$120,000
$228,000
$63,000
$150,000
$285,000
$79,000
Calculated using a weighted index: rent (40%), home prices (20%), groceries (20%), utilities (10%), state income tax (10%). Individual lifestyles vary.
Monthly Budget: Chicago vs New York
Who Each City Is Best For
Chicago is best for
- ✓urban explorers
- ✓foodies
- ✓architecture lovers
- ✓transit users
New York is best for
- ✓finance professionals
- ✓media & entertainment workers
- ✓ambitious 20-somethings
- ✓culture seekers
FAQs
Is Chicago or New York cheaper to live in?
Chicago is 90% cheaper than New York overall. Chicago 1BR rent ($1,850/mo) vs New York ($3,200/mo). Median home price: Chicago $340K vs New York $750K.
How much salary do I need in New York to match $100K in Chicago?
$190,000 in New York is equivalent to $100,000 in Chicago based on cost of living differences. The biggest factors are rent (+73% difference) and state taxes (Chicago: 4.95% vs New York: Up to 10.9%).
What is the rent difference between Chicago and New York?
1BR: Chicago $1,850/mo vs New York $3,200/mo (+73%). 2BR: Chicago $2,350/mo vs New York $4,500/mo (+91%).
Does Chicago or New York have lower taxes?
Chicago (IL) has 4.95% state income tax. New York (NY) has Up to 10.9% state income tax. On a $100K salary, the annual tax difference is ~$5,950.