New York City vs Chicago

Chicago is cheaper to live in overall. New York City has a cost of living index of 187 while Chicago has an index of 107, where 100 represents the US national average. Chicago is 43% cheaper than New York City overall.

The median 1-bedroom rent in New York City is $3,700 per month compared to $1,750 in Chicago. The median home price in New York City is $750,000 versus $310,000 in Chicago. Housing is typically the largest factor in cost of living differences between cities.

New York City has a cost of living index of 187 and Chicago has an index of 107, both measured against a US national average of 100. An index above 100 means more expensive than the national average — below 100 means cheaper.

To maintain the same purchasing power as a salary in New York City, multiply by 0.57. For example a $75,000 salary in New York City is equivalent to approximately $42,914 in Chicago.

New York City has a median household income of $70,663 per year versus $62,097 in Chicago. Higher incomes must be weighed against cost of living. Use the Dayblip salary tools to see specific job salaries in both cities.

Whether moving from New York City to Chicago is worthwhile depends on your salary, lifestyle, and priorities. Chicago is 43% cheaper overall — with the biggest difference in housing. Use the Dayblip cost of living calculator to enter your specific salary and see the exact dollar impact.