Quick answer
Overall prices in the New York, NY metro were 112.6 vs 103.6 in Chicago, IL in 2024 (US = 100), so New York is 8.7% more expensive than Chicago; housing rents differ by 33% (148.6 vs 112.0). A $75,000 income in New York buys about what $69,025 buys in Chicago, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | New York | Chicago | New York vs Chicago |
|---|---|---|---|
| All items | 112.6 | 103.6 | +8.7% |
| Goods | 110.3 | 107.3 | +2.8% |
| Housing (rents) | 148.6 | 112.0 | +32.7% |
| Utilities | 127.0 | 83.6 | +52.0% |
| Other services | 105.8 | 100.5 | +5.3% |
| All items, 2008 | 113.5 | 105.4 | +7.6% |
| $50,000 in New York equals in Chicago | $46,016 | ||
| $100,000 in New York equals in Chicago | $92,033 | ||
| $150,000 in New York equals in Chicago | $138,049 |
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Last updated 2026-10-16. Data only, not financial or tax advice.