Cost of Living: Chicago, IL vs Denver, CO (2026)

Chicago

Illinois
100
VS

Denver

Colorado
147

Chicago is 47% cheaper than Denver.

$1,380/mo ↓ 22%
Median Rent
$1,770/mo ↑ 28%
$75,134/yr ↓ 18%
Median Income
$91,681/yr ↑ 22%
$315,200 ↓ 46%
Home Value
$586,700 ↑ 86%
$1,502/mo ↓ 18%
Owner Costs
$1,839/mo ↑ 22%
2,707,648
Population
713,734

Tax Comparison

4.95%
Income Tax
4.4%
6.25%
Sales Tax
2.9%
2.07%
Property Tax
0.51%

Affordability

22.0%
rent-to-income
Affordability
23.2%
rent-to-income

Detailed Comparison

When comparing Chicago, IL and Denver, CO, the overall cost of living indices are 100 and 147 respectively (national median = 100). Rent is $390/month cheaper in Chicago, saving renters about $4,680/year.

Median household income is $16,547/year higher in Denver. Home values also differ significantly — the median in Chicago is $315,200 compared to $586,700 in Denver.

Colorado has a lower income tax rate, making Denver slightly more tax-friendly.

Frequently Asked Questions

Chicago vs Denver — common questions

Is Chicago or Denver cheaper to live in?
Based on our cost index, Chicago is cheaper to live in with an index of 100 compared to 147 (US average = 100).
What is the rent difference between Chicago and Denver?
Median rent in Chicago is $1,380/month and in Denver it's $1,770/month — a difference of $390/month.
Which city has higher income, Chicago or Denver?
Median household income is $75,134 in Chicago and $91,681 in Denver. Median household income is $16,547/year higher in Denver.
How do taxes compare between Illinois and Colorado?
Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax. Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax.
Should I move to Chicago or Denver?
It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Denver has a cost index of 147 with rent of $1,770/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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