Quick answer
Overall prices in the Chicago, IL metro were 103.6 vs 114.2 in Miami, FL in 2024 (US = 100), so Chicago is 9.3% less expensive than Miami; housing rents differ by 28% (112.0 vs 155.6). A $75,000 income in Chicago buys about what $82,645 buys in Miami, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Chicago | Miami | Chicago vs Miami |
|---|---|---|---|
| All items | 103.6 | 114.2 | -9.3% |
| Goods | 107.3 | 103.6 | +3.6% |
| Housing (rents) | 112.0 | 155.6 | -28.0% |
| Utilities | 83.6 | 97.2 | -14.0% |
| Other services | 100.5 | 109.1 | -7.9% |
| All items, 2008 | 105.4 | 106.5 | -1.0% |
| $50,000 in Chicago equals in Miami | $55,097 | ||
| $100,000 in Chicago equals in Miami | $110,194 | ||
| $150,000 in Chicago equals in Miami | $165,290 |
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- Cost of living: Chicago, IL vs Minneapolis, MN (2024)
- Cost of living: Chicago, IL vs Nashville, TN (2024)
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Last updated 2026-10-16. Data only, not financial or tax advice.