Cost of Living: Chicago, IL vs Billings, MT (2026)

Chicago

Illinois
100
VS

Billings

Montana
86

Chicago is 16% more expensive than Billings.

$1,380/mo ↑ 26%
Median Rent
$1,097/mo ↓ 21%
$75,134/yr ↑ 5%
Median Income
$71,855/yr ↓ 4%
$315,200 ↑ 1%
Home Value
$311,800 ↓ 1%
$1,502/mo ↑ 28%
Owner Costs
$1,177/mo ↓ 22%
2,707,648
Population
118,321

Tax Comparison

4.95%
Income Tax
6.75%
6.25%
State Sales Tax
0%
2.07%
Property Tax
0.74%

Affordability

22.0%
rent-to-income
Affordability
18.3%
rent-to-income

Detailed Comparison

When comparing Chicago, IL and Billings, MT, the overall cost of living indices are 100 and 86 respectively (national median = 100). Rent is $283/month cheaper in Billings, saving renters about $3,396/year.

Median household income is $3,279/year higher in Chicago. Home values also differ significantly — the median in Chicago is $315,200 compared to $311,800 in Billings.

Illinois has a lower income tax rate, making Chicago slightly more tax-friendly.

Frequently Asked Questions

Chicago vs Billings — common questions

Is Chicago or Billings cheaper to live in?
Based on our cost index, Billings is cheaper to live in with an index of 86 compared to 100 (US average = 100).
What is the rent difference between Chicago and Billings?
Median rent in Chicago is $1,380/month and in Billings it's $1,097/month — a difference of $283/month.
Which city has higher income, Chicago or Billings?
Median household income is $75,134 in Chicago and $71,855 in Billings. Median household income is $3,279/year higher in Chicago.
How do taxes compare between Illinois and Montana?
Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax. Montana has 6.75% income tax, 0% sales tax, and 0.74% property tax.
Should I move to Chicago or Billings?
It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Billings has a cost index of 86 with rent of $1,097/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Chicago details → View Billings details →

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