Side-by-side cost of living comparison for 2026
Median Income: $65,781
Population: 2,693,976
Median Income: $74,694
Population: 8,336,817
When comparing Chicago and New York City, the overall cost of living differs by 67%. New York City carries a cost index of 187 compared to Chicago's 112, meaning your dollar stretches 40% further in Chicago.
Housing is where the most significant gap appears between these two cities. Chicago has a housing index of 118 compared to New York City's 238. This 120-point difference translates to substantial monthly savings on rent or mortgage payments in Chicago.
Chicago is more affordable for: Housing, Food & Groceries, Transportation, Healthcare, Utilities, Entertainment, Taxes.
If you earn $60,000 in Chicago, you would need $100,179 in New York City to maintain the same standard of living. For a $100,000 salary, the equivalent would be $166,964.
The median household income in Chicago is $65,781 compared to $74,694 in New York City. New York City has higher incomes, though the higher cost of living may offset this advantage.
Safety: Chicago scores 4/10 while New York City scores 5/10 in our safety assessment.
Weather: New York City enjoys better weather with a score of 5/10 versus Chicago's 4/10.
Job Market: New York City has the stronger job market (9/10) compared to Chicago (7/10).
Chicago is the more affordable option overall, but cost is just one factor in deciding where to live. Consider your career opportunities, family needs, and lifestyle preferences alongside the financial comparison. New York City may justify its higher costs with a thriving job market that many residents find worthwhile.
