USLivingCost Salaries · Rent · Cost of Living

Chicago, IL vs. New York, NY

Median rent is $1,380 a month in Chicago, IL and $1,779 in New York, NY. Household income is $75,134 against $79,713. Both cities are read from the same ACS 2019-2023 5-Year Estimates and the same BEA Regional Price Parities 2023, so the two columns below are directly comparable.

$
Same standard of living
A salary of $100,000 in Chicago, IL buys what $109,669 buys in New York, NY
+$9,669 more to keep the same standard of living
Median gross rent Monthly
$1,380 $1,779 +28.9%
Median household income Annual
$75,134 $79,713 +6.1%
Median home value Owner-occupied
$315,200 $751,700 +138.5%
Rent as share of income Annual rent ÷ income
22.0% 26.8% 4.8 pp
Price level U.S. average = 100
102.6 112.5 +9.6%
Salary needed for median rent Keeps rent at 30% of gross
$55,200 $71,200 +29.0%
Rent median income carries at 30% Affordable rent
$1,878 $1,993 +6.1%
Population City proper
2,707,648 8,516,202 +214.5%
Equivalent salary For $100,000 in Chicago
$100,000 $109,669 +9.7%

A green or red badge means the second city is higher or lower, not better or worse: a lower rent is good for a tenant, a lower household income is not. For the price level and
the share of income the raw values are shown, because a percentage difference between two
percentages is easy to misread.

What the gap means

Lower rent
$1,380
Chicago, IL · 28.9% below New York, NY
Higher household income
$79,713
New York, NY · 6.1% above Chicago, IL
Same standard of living
$109,669
$100,000 in Chicago, IL needs $109,669 in New York, NY
Price level gap
9.9 points
102.6 in IL against 112.5 in NY
Rent burden gap
4.7 points
Chicago, IL versus New York, NY, share of income taken by rent
Highest buying power
97.5%
Chicago, IL · share of the national average income that a dollar there buys

Occupation wages in both metros

May 2025 U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS). Metropolitan areas may differ from city boundaries.

Occupation Chicago, IL median New York, NY median vs.
General and Operations Managers $109,390 $157,000 +43.5%
Retail Salespersons $35,820 $38,280 +6.9%
Registered Nurses $100,490 $119,720 +19.1%
Fast Food and Counter Workers $34,630 $35,420 +2.3%
Janitors and Cleaners, Except Maids and Housekeeping Cleaners $38,470 $42,840 +11.4%
Customer Service Representatives $47,100 $49,590 +5.3%
Waiters and Waitresses $31,200 $47,610 +52.6%
Software Developers $134,380 $166,830 +24.1%

Metropolitan areas and cover every industry together, so the two columns may describe wider areas than the city limits used for rent and income.

More comparisons with Chicago, IL

More comparisons with New York, NY

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Definitions used on this page

Salary needed for the median rent
Twelve months of median gross rent divided by 0.30: the income that keeps the median rent at 30% of gross pay.
Price level
BEA regional price parity for the metro area where one is published, otherwise for the state. The national average is 100.
Same standard of living
A salary in Chicago, IL converted into New York, NY at the ratio of the two price levels. It adjusts for prices only, not for taxes or for what either city offers.
Buying power
One hundred divided by the price level: what a dollar buys locally relative to the national average.

Sources

Margins of error are published for every Census figure. Read the methodology before reading a small gap between two cities as a real difference.

Full detail for each city: Chicago, IL · New York, NY