Chicago, IL vs Austin, TX
Cost of living comparison · 2023 Census ACS data
Quick Summary
Austin is the more expensive housing market by roughly 39%; Austin earns more at the median (18% higher), partly offsetting the cost difference. Whether that math works depends on what fraction of housing cost a relocating household plans to absorb. Austin also has no state income tax, while the other state tops out at 5.0% — a meaningful annual difference at higher income levels.
Median Home Value
$315,200 ✓
$512,700
Zillow Home Value
$312,456
$500,627
Median Gross Rent
$1,380/mo ✓
$1,655/mo
Owner Occupied %
45.5%
44.4%
Price-to-Rent Ratio
19.0x
25.8x
Median Household Income
$75,134
$91,461 ✓
Per Capita Income
$48,148
$59,427
Unemployment Rate
7.9%
4.5% ✓
Poverty Rate
16.8%
12.3%
Avg Commute (min)
36.7 min
25.9 min
Drove Alone %
46.0%
58.8%
Public Transit %
19.3%
2.1%
Work From Home %
18.3%
27.5%
State Income Tax
5.0%
None
Total Sales Tax
8.7%
8.2% ✓
Property Tax Rate
2.2%
1.7%
Bachelor's Degree %
24.9%
36.2%
Median Age
35.7
34.5
Avg High Temp
60.3°F
80.5°F
Annual Precipitation
34.4"
36.2"
Annual Snowfall
—
0.2"
Chicago, IL 2 wins
- ✓Median Home Value
- ✓Median Gross Rent
Austin, TX 3 wins
- ✓Total Sales Tax
- ✓Median Household Income
- ✓Unemployment Rate
Thinking about moving? See what salary you'd need in each city.
Open Cost of Living Calculator →