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

Chicago

Illinois
100
VS

Tampa

Florida
113

Chicago is 12% cheaper than Tampa.

$1,380/mo ↓ 12%
Median Rent
$1,567/mo ↑ 14%
$75,134/yr ↑ 5%
Median Income
$71,302/yr ↓ 5%
$315,200 ↓ 16%
Home Value
$375,300 ↑ 19%
$1,502/mo ↓ 3%
Owner Costs
$1,553/mo ↑ 3%
2,707,648
Population
393,389

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 Tampa, FL, the overall cost of living indices are 100 and 113 respectively (national median = 100). Rent is $187/month cheaper in Chicago, saving renters about $2,244/year.

Median household income is $3,832/year higher in Chicago. Home values also differ significantly — the median in Chicago is $315,200 compared to $375,300 in Tampa.

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

Frequently Asked Questions

Chicago vs Tampa — common questions

Is Chicago or Tampa cheaper to live in?
Based on our cost index, Chicago is cheaper to live in with an index of 100 compared to 113 (US average = 100).
What is the rent difference between Chicago and Tampa?
Median rent in Chicago is $1,380/month and in Tampa it's $1,567/month — a difference of $187/month.
Which city has higher income, Chicago or Tampa?
Median household income is $75,134 in Chicago and $71,302 in Tampa. Median household income is $3,832/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 Tampa?
It depends on your priorities. Chicago has a cost index of 100 with median rent of $1,380/mo, while Tampa has a cost index of 113 with rent of $1,567/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
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More Comparisons

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