New York vs Chicago: Cost of Living & Salary Comparison
Thinking about relocating between New York and Chicago? This comparison breaks down the real costs, salary differences, and what your money buys in each city.
New York
Chicago
Detailed Cost Comparison
| Category | New York | Chicago | Difference |
|---|---|---|---|
| Cost of Living Index | 100 | 78 | +28% (lower is better) |
| Median Salary | $75,000 | $65,000 | |
| Rent (1BR) | $3,200 | $2,000 | (/month) |
| Rent (2BR) | $4,500 | $2,800 | (/month) |
| Groceries Index | 100 | 82 | +22% (NYC=100) |
| Transport Monthly | $127 | $110 | |
| Effective Tax Rate | 28.5% | 27.5% | (at median income) |
| Purchasing Power | 100 | 92 | +9% (higher is better) |
Salary Comparison by Role
| Role | New York | Chicago | Difference |
|---|
New York Offers Better Purchasing Power
While New York may have higher costs, its purchasing power index of 100 vs 92 means your money generally goes further. Higher median salaries ($75,000 vs $65,000) help offset costs.
Common Questions
Based on cost of living indices, New York (100) is more expensive compared to Chicago (78), where NYC = 100.
To maintain the same standard of living, you would need approximately $78,000 in Chicago to match $100,000 in New York.
New York has a tech hub score of 9/10 while Chicago scores 7/10. New York generally offers more tech opportunities.
Based on purchasing power, New York offers better value. This accounts for both salary levels and cost of living.
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Last updated: 2026-02-19 | Data sources: Numbeo, OECD, Glassdoor, and local government statistics.