Chicago, IL vs Newark, NJ: 100 vs 100

$1,380/mo ↑ 4%

Median Rent

$1,330/mo ↓ 4%

$75,134/yr ↑ 55%

Median Income

$48,416/yr ↓ 36%

$315,200 ↓ 7%

Home Value

$337,800 ↑ 7%

$1,502/mo ↑ 6%

Owner Costs

$1,419/mo ↓ 6%

2,707,648

Population

307,188

Detailed Comparison

When comparing Chicago, IL and Newark, NJ, the overall cost of living indices are 100 and 100 respectively (national median = 100). Rent is $50/month cheaper in Newark, saving renters about $600/year.

Median household income is $26,718/year higher in Chicago. Home values also differ significantly — the median in Chicago is $315,200 compared to $337,800 in Newark.

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

Frequently Asked Questions

Chicago vs Newark — common questions

Is Chicago or Newark cheaper to live in?

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

What is the rent difference between Chicago and Newark?

Median rent in Chicago is $1,380/month and in Newark it's $1,330/month — a difference of $50/month.

Which city has higher income, Chicago or Newark?

Median household income is $75,134 in Chicago and $48,416 in Newark. Median household income is $26,718/year higher in Chicago.

How do taxes compare between Illinois and New Jersey?

Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.

Should I move to Chicago or Newark?

It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Newark has a cost index of 100 with rent of $1,330/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.

Cost of Living: Chicago, IL vs Newark, NJ (2026)

Chicago

Newark

Tax Comparison

Affordability

Detailed Comparison

Frequently Asked Questions

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