Chicago, IL vs Miami, FL: 100 vs 129

$1,380/mo ↓ 17%

Median Rent

$1,657/mo ↑ 20%

$75,134/yr ↑ 27%

Median Income

$59,390/yr ↓ 21%

$315,200 ↓ 34%

Home Value

$475,200 ↑ 51%

$1,502/mo ↓ 10%

Owner Costs

$1,666/mo ↑ 11%

2,707,648

Population

446,663

Detailed Comparison

When comparing Chicago, IL and Miami, FL, the overall cost of living indices are 100 and 129 respectively (national median = 100). Rent is $277/month cheaper in Chicago, saving renters about $3,324/year.

Median household income is $15,744/year higher in Chicago. Home values also differ significantly — the median in Chicago is $315,200 compared to $475,200 in Miami.

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

Frequently Asked Questions

Chicago vs Miami — common questions

Is Chicago or Miami cheaper to live in?

Based on our cost index, Chicago is cheaper to live in with an index of 100 compared to 129 (US average = 100).

What is the rent difference between Chicago and Miami?

Median rent in Chicago is $1,380/month and in Miami it's $1,657/month — a difference of $277/month.

Which city has higher income, Chicago or Miami?

Median household income is $75,134 in Chicago and $59,390 in Miami. Median household income is $15,744/year higher in Chicago.

How do taxes compare between Illinois and Florida?

Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.

Should I move to Chicago or Miami?

It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Miami has a cost index of 129 with rent of $1,657/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Chicago, IL vs Miami, FL (2026)

Chicago

Miami

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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