New York, NY vs Chicago, IL
Cost of living comparison · 2023 Census ACS data
Quick Summary
Housing costs separate Chicago and New York more than any other line item — $315,000 versus $752,000 for a typical home, a 58% spread. State income-tax burden also tilts toward Chicago — a top rate of 5.0% versus 10.9% — which compounds at higher incomes.
Median Home Value
$751,700
$315,200 ✓
Zillow Home Value
$812,534
$312,456
Median Gross Rent
$1,779/mo
$1,380/mo ✓
Owner Occupied %
32.8%
45.5%
Price-to-Rent Ratio
35.2x
19.0x
Median Household Income
$79,713 ✓
$75,134
Per Capita Income
$50,776
$48,148
Unemployment Rate
7.7% ✓
7.9%
Poverty Rate
17.4%
16.8%
Avg Commute (min)
44.8 min
36.7 min
Drove Alone %
21.9%
46.0%
Public Transit %
45.5%
19.3%
Work From Home %
15.0%
18.3%
State Income Tax
10.9%
5.0%
Total Sales Tax
8.5% ✓
8.7%
Property Tax Rate
1.7%
2.2%
Bachelor's Degree %
23.6%
24.9%
Median Age
38
35.7
Avg High Temp
62.6°F
60.3°F
Annual Precipitation
49.5"
34.4"
Annual Snowfall
29.8"
—
New York, NY 3 wins
- ✓Total Sales Tax
- ✓Median Household Income
- ✓Unemployment Rate
Chicago, IL 2 wins
- ✓Median Home Value
- ✓Median Gross Rent
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