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

Chicago

Illinois
100
VS

Palm Bay

Florida
91

Chicago is 10% more expensive than Palm Bay.

$1,380/mo ↓ 7%
Median Rent
$1,487/mo ↑ 8%
$75,134/yr ↑ 11%
Median Income
$67,521/yr ↓ 10%
$315,200 ↑ 27%
Home Value
$248,000 ↓ 21%
$1,502/mo ↑ 25%
Owner Costs
$1,203/mo ↓ 20%
2,707,648
Population
125,273

Tax Comparison

4.95%
Income Tax
0%
6.25%
State Sales Tax
6.0%
2.07%
Property Tax
0.86%

Affordability

22.0%
rent-to-income
Affordability
26.4%
rent-to-income

Detailed Comparison

When comparing Chicago, IL and Palm Bay, FL, the overall cost of living indices are 100 and 91 respectively (national median = 100). Rent is $107/month cheaper in Chicago, saving renters about $1,284/year.

Median household income is $7,613/year higher in Chicago. Home values also differ significantly — the median in Chicago is $315,200 compared to $248,000 in Palm Bay.

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

Frequently Asked Questions

Chicago vs Palm Bay — common questions

Is Chicago or Palm Bay cheaper to live in?
Based on our cost index, Palm Bay is cheaper to live in with an index of 91 compared to 100 (US average = 100).
What is the rent difference between Chicago and Palm Bay?
Median rent in Chicago is $1,380/month and in Palm Bay it's $1,487/month — a difference of $107/month.
Which city has higher income, Chicago or Palm Bay?
Median household income is $75,134 in Chicago and $67,521 in Palm Bay. Median household income is $7,613/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 Palm Bay?
It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Palm Bay has a cost index of 91 with rent of $1,487/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Chicago details → View Palm Bay details →

More Comparisons

Other cost of living comparisons for Chicago and Palm Bay

Chicago vs. Los Angeles Chicago vs. Houston Chicago vs. New York Chicago vs. Phoenix Chicago vs. Allen Chicago vs. Philadelphia Palm Bay vs. Allentown Palm Bay vs. Meridian Palm Bay vs. Thousand Oaks Palm Bay vs. Vallejo Palm Bay vs. Simi Valley Palm Bay vs. Round Rock