Chicago, IL vs Phoenix, AZ
Cost of living comparison · 2023 Census ACS data
Quick Summary
On the headline indicators, Chicago and Phoenix are closely matched markets (homes within 17% of each other). Distinguishing the two usually requires looking past the cost averages — at the tax structure, commute patterns, and individual neighborhood differences.
Median Home Value
$315,200 ✓
$381,900
Zillow Home Value
$312,456
$407,665
Median Gross Rent
$1,380/mo ✓
$1,458/mo
Owner Occupied %
45.5%
57.1%
Price-to-Rent Ratio
19.0x
21.8x
Median Household Income
$75,134
$77,041 ✓
Per Capita Income
$48,148
$40,309
Unemployment Rate
7.9%
5.1% ✓
Poverty Rate
16.8%
14.3%
Avg Commute (min)
36.7 min
27.8 min
Drove Alone %
46.0%
66.1%
Public Transit %
19.3%
2.0%
Work From Home %
18.3%
16.9%
State Income Tax
5.0%
2.5%
Total Sales Tax
8.7%
8.4% ✓
Property Tax Rate
2.2%
0.6%
Bachelor's Degree %
24.9%
19.9%
Median Age
35.7
34.8
Avg High Temp
60.3°F
—
Annual Precipitation
34.4"
8.5"
Chicago, IL 2 wins
- ✓Median Home Value
- ✓Median Gross Rent
Phoenix, AZ 3 wins
- ✓Total Sales Tax
- ✓Median Household Income
- ✓Unemployment Rate
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