Cost of Living: Chicago, IL vs Austin, TX (2026)

Chicago

Illinois
100
VS

Austin

Texas
134

Chicago is 34% cheaper than Austin.

$1,380/mo ↓ 17%
Median Rent
$1,655/mo ↑ 20%
$75,134/yr ↓ 18%
Median Income
$91,461/yr ↑ 22%
$315,200 ↓ 39%
Home Value
$512,700 ↑ 63%
$1,502/mo ↓ 14%
Owner Costs
$1,747/mo ↑ 16%
2,707,648
Population
967,862

Tax Comparison

4.95%
Income Tax
0%
6.25%
Sales Tax
6.25%
2.07%
Property Tax
1.6%

Affordability

22.0%
rent-to-income
Affordability
21.7%
rent-to-income

Detailed Comparison

When comparing Chicago, IL and Austin, TX, the overall cost of living indices are 100 and 134 respectively (national median = 100). Rent is $275/month cheaper in Chicago, saving renters about $3,300/year.

Median household income is $16,327/year higher in Austin. Home values also differ significantly — the median in Chicago is $315,200 compared to $512,700 in Austin.

Texas has no state income tax, giving Austin residents a significant tax advantage over Illinois's 4.95% rate.

Frequently Asked Questions

Chicago vs Austin — common questions

Is Chicago or Austin cheaper to live in?
Based on our cost index, Chicago is cheaper to live in with an index of 100 compared to 134 (US average = 100).
What is the rent difference between Chicago and Austin?
Median rent in Chicago is $1,380/month and in Austin it's $1,655/month — a difference of $275/month.
Which city has higher income, Chicago or Austin?
Median household income is $75,134 in Chicago and $91,461 in Austin. Median household income is $16,327/year higher in Austin.
How do taxes compare between Illinois and Texas?
Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax. Texas has 0% income tax, 6.25% sales tax, and 1.6% property tax.
Should I move to Chicago or Austin?
It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Austin has a cost index of 134 with rent of $1,655/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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