New York, NY vs Chicago, IL: Cost of Living
Compare the cost of living between New York, NY and Chicago, IL. See the equivalent salary and median rent powered by BLS Regional Price Parities.
New York, NY
NY
- Overall RPP (US=100)
- 113
- Housing RPP
- 154.2
- Goods RPP
- 107.6
- 2-BR median rent
- $2,752/mo
NY state income tax 4%-10.9% + NYC city tax up to 3.876% for city residents.
Chicago, IL
IL
- Overall RPP (US=100)
- 105.7
- Housing RPP
- 110.9
- Goods RPP
- 106.7
- 2-BR median rent
- $1,714/mo
Illinois flat income tax 4.95%. Chicago city tax adds ~2.25% effective burden.
Equivalent salary
Chicago, IL is cheaper than New York, NY by about 6.5% (RPP 113 to 105.7).
$60,000 in New York, NY
-> $56,124
in Chicago, IL
$100,000 in New York, NY
-> $93,540
in Chicago, IL
$150,000 in New York, NY
-> $140,310
in Chicago, IL
This tool provides estimates only. Equivalent-salary figures are derived from BLS Regional Price Parities (RPP) and HUD Fair Market Rents — they are averages, not guarantees. Actual cost of living varies by neighborhood, lifestyle, and individual circumstances. Not financial advice.
Frequently asked questions
- Is Chicago, IL cheaper or more expensive than New York, NY?
- Chicago, IL (RPP 105.7) is cheaper than New York, NY (RPP 113) by about 6.5%.
- What salary do I need in Chicago, IL if I earn $100,000 in New York, NY?
- You would need approximately $93,540 in Chicago, IL to maintain the same purchasing power as $100,000 in New York, NY. Formula: $100,000 x (105.7 / 113).