Quick answer
Overall prices in the Chicago, IL metro were 103.6 vs 103.3 in Phoenix, AZ in 2024 (US = 100), so Chicago is 0.3% more expensive than Phoenix; housing rents differ by 8% (112.0 vs 121.2). A $75,000 income in Chicago buys about what $74,798 buys in Phoenix, per BEA.
Data as of 2024. Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024
| Price index (US = 100) | Chicago | Phoenix | Chicago vs Phoenix |
|---|---|---|---|
| All items | 103.6 | 103.3 | +0.3% |
| Goods | 107.3 | 95.0 | +12.9% |
| Housing (rents) | 112.0 | 121.2 | -7.6% |
| Utilities | 83.6 | 93.3 | -10.4% |
| Other services | 100.5 | 104.0 | -3.4% |
| All items, 2008 | 105.4 | 105.7 | -0.2% |
| $50,000 in Chicago equals in Phoenix | $49,865 | ||
| $100,000 in Chicago equals in Phoenix | $99,731 | ||
| $150,000 in Chicago equals in Phoenix | $149,596 |
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Last updated 2026-10-16. Data only, not financial or tax advice.