City comparison
Chicago, IL vs New York, NY
What a paycheck is really worth in each city: prices, rent and state taxes.
Key findings
- Prices in New York, NY are 8.7% higher than in Chicago, IL. Someone earning $100,000 in Chicago, IL would need about $108,700 in New York, NY to live the same way.
- Rent is the bigger story: a typical 1-bedroom costs $2,655 a month in New York, NY versus $1,581 in Chicago, IL. On $100,000, that's 43% of take-home pay in New York, NY and 26% in Chicago, IL.
- Estimated state income tax on $100,000 is close: $4,805 a year in IL and $4,860 in NY.
- For federal employees, locality pay changes a GS-13 step 1 salary by +5.4% moving from Chicago, IL to New York, NY ($118,984 → $125,431), while prices change by +8.7%. Net effect of the transfer: −3.0% in real buying power.
- Chicago, IL: price level 103.6 (pricier)
- New York, NY: price level 112.6 (much pricier)
Map drawn from Census Bureau state boundaries and metro locations9,10; dot colours show BEA price levels2.
Side by side
| Chicago, IL | New York, NY | |
|---|---|---|
| Price level (U.S. = 100)2 | 103.6 | 112.6 |
| $100,000 is worth, in the other city2 | $108,657 in New York | $92,033 in Chicago |
| Typical 1-bedroom rent3 | $1,581/mo | $2,655/mo |
| Take-home on $100,00014,15,8 | $74,375 | $74,320 |
| State income tax on $100,000 (estimate)8 | $4,805 (IL) | $4,860 (NY) |
| Rent burden on $100,000 | 26% | 43% |
| Median pay, all jobs4 | $54,720 | $61,430 |
| Federal locality pay area7 | Chicago-Naperville, IL-IN-WI | New York-Newark, NY-NJ-CT-PA |
Rent areas: Chicago-Joliet-Naperville, IL HUD Metro FMR Area and New York, NY HUD Metro FMR Area. Metro areas: Chicago-Naperville-Elgin, IL-IN and New York-Newark-Jersey City, NY-NJ.
What costs more or less
| Price level (U.S. = 100) | Chicago | New York |
|---|---|---|
| Housing (rent) | 112.0 | 148.6 |
| Goods | 107.3 | 110.3 |
| Utilities | 83.6 | 127.0 |
| Other services | 100.5 | 105.8 |
| Overall | 103.6 | 112.6 |
Moving with the same $100,000 salary
Chicago, IL → New York, NY
Same pay buys less
Buying power −8.0%; rent takes 43% of take-home; state tax +$55/yr.
17 Weak offer
New York, NY → Chicago, IL
Same pay goes further
Buying power +8.7%; rent takes 26% of take-home; state tax −$55/yr.
95 Strong offer
On the GS pay scale?
Chicago, IL is in the Chicago-Naperville, IL-IN-WI pay area; New York, NY is in New York-Newark, NY-NJ-CT-PA. The last column shows what a transfer from Chicago, IL to New York, NY at the same grade and step does to real buying power.
| Grade5,2 | Chicago, IL | New York, NY | Real change, Chicago → New York |
|---|---|---|---|
| GS-9 step 1 | $68,999 | $72,737 | −3.0% |
| GS-11 step 1 | $83,482 | $88,005 | −3.0% |
| GS-12 step 1 | $100,059 | $105,481 | −3.0% |
| GS-13 step 1 | $118,984 | $125,431 | −3.0% |
| GS-14 step 1 | $140,604 | $148,222 | −3.0% |
Pay for common jobs
| Median annual pay4 | Chicago, IL | New York, NY | New York pay in Chicago dollars |
|---|---|---|---|
| Elementary School Teachers, Except Special Education | $78,390 | $96,900 | $89,180 (+13.8%) |
| Software Developers | $134,380 | $166,830 | $153,538 (+14.3%) |
| Accountants and Auditors | $82,360 | $105,650 | $97,233 (+18.1%) |
| Registered Nurses | $100,490 | $119,720 | $110,182 (+9.6%) |
"Not published" means BLS doesn't release an estimate for that job in that metro.