Side-by-side cost of living comparison for 2026
Median Income: $74,694
Population: 8,336,817
Median Income: $65,781
Population: 2,693,976
When comparing New York City and Chicago, the overall cost of living differs by 40.1%. 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 across all categories.
Chicago is more affordable for: Housing, Food & Groceries, Transportation, Healthcare, Utilities, Entertainment, Taxes.
If you earn $60,000 in New York City, you would need $35,936 in Chicago to maintain the same standard of living. For a $100,000 salary, the equivalent would be $59,893.
The median household income in New York City is $74,694 compared to $65,781 in Chicago. While New York City has higher incomes, the higher cost of living may offset this advantage.
Safety: New York City scores 5/10 while Chicago scores 4/10 in our safety assessment.
Weather: New York City has an edge in climate with a 5/10 weather score compared to Chicago's 4/10.
Job Market: New York City's job market (9/10) is stronger than Chicago's (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.
