By Ziv Shay | Updated April 2026
Side-by-side cost of living comparison for 2026
Median Income: $60,931
Population: 1,608,139
Median Income: $65,781
Population: 2,693,976
When comparing Phoenix and Chicago, the overall cost of living differs by 12%. Chicago carries a cost index of 112 compared to Phoenix's 100, meaning your dollar stretches 11% further in Phoenix.
Housing is where the most significant gap appears between these two cities. Phoenix has a housing index of 102 compared to Chicago's 118. This 16-point difference translates to substantial monthly savings on rent or mortgage payments in Phoenix.
Phoenix is more affordable for: Housing, Food & Groceries, Transportation, Healthcare, Entertainment, Taxes.
Chicago is more affordable for: Utilities.
If you earn $60,000 in Phoenix, you would need $67,200 in Chicago to maintain the same standard of living. For a $100,000 salary, the equivalent would be $112,000.
The median household income in Phoenix is $60,931 compared to $65,781 in Chicago. Chicago has higher incomes, though the higher cost of living may offset this advantage.
Safety: Phoenix scores 6/10 while Chicago scores 4/10 in our safety assessment.
Weather: Phoenix has an edge in climate with a 7/10 weather score compared to Chicago's 4/10.
Job Market: Both cities have comparable job markets at 7/10.
Phoenix 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. Chicago may justify its higher costs with unique cultural amenities that many residents find worthwhile.
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