Cost of Living: Chicago, IL vs Madison, WI (2026)

Chicago

Illinois
100
VS

Madison

Wisconsin
103

Chicago is 3% cheaper than Madison.

$1,380/mo ↑ 1%
Median Rent
$1,364/mo ↓ 1%
$75,134/yr ↓ 2%
Median Income
$76,983/yr ↑ 2%
$315,200 ↓ 9%
Home Value
$346,900 ↑ 10%
$1,502/mo ↑ 2%
Owner Costs
$1,476/mo ↓ 2%
2,707,648
Population
275,568

Tax Comparison

4.95%
Income Tax
7.65%
6.25%
State Sales Tax
5.0%
2.07%
Property Tax
1.61%

Affordability

22.0%
rent-to-income
Affordability
21.3%
rent-to-income

Detailed Comparison

When comparing Chicago, IL and Madison, WI, the overall cost of living indices are 100 and 103 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $1,849/year higher in Madison. Home values also differ significantly — the median in Chicago is $315,200 compared to $346,900 in Madison.

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

Frequently Asked Questions

Chicago vs Madison — common questions

Is Chicago or Madison cheaper to live in?
Based on our cost index, Chicago is cheaper to live in with an index of 100 compared to 103 (US average = 100).
What is the rent difference between Chicago and Madison?
Median rent in Chicago is $1,380/month and in Madison it's $1,364/month — a difference of $16/month.
Which city has higher income, Chicago or Madison?
Median household income is $75,134 in Chicago and $76,983 in Madison. Median household income is $1,849/year higher in Madison.
How do taxes compare between Illinois and Wisconsin?
Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax. Wisconsin has 7.65% income tax, 5.0% sales tax, and 1.61% property tax.
Should I move to Chicago or Madison?
It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Madison has a cost index of 103 with rent of $1,364/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Chicago details → View Madison details →

More Comparisons

Other cost of living comparisons for Chicago and Madison

Chicago vs. Los Angeles Chicago vs. Houston Chicago vs. New York Chicago vs. Phoenix Chicago vs. Allen Chicago vs. Philadelphia Madison vs. Buffalo Madison vs. Chula Vista Madison vs. Chandler Madison vs. Gilbert Madison vs. Plano Madison vs. North Las Vegas