A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Atlanta, GA and Chicago, IL.
GA
Population: 499,127
IL
Population: 2,664,452
National average = 100. Higher values indicate a more expensive area.
| Metric | Atlanta, GA | Chicago, IL | Difference |
|---|---|---|---|
| Cost of Living Index | 100 | 105 | -4.8% |
| Median Home Price | $350,000 | $310,000 | +12.9% |
| Property Tax Rate | 1.08% | 1.73% | -37.6% |
| Median Household Income | $65,345 | $66,576 | -1.8% |
| Population | 499,127 | 2,664,452 | -81.3% |
Atlanta, GA is 4.8% cheaper to live in than Chicago, IL, based on the overall cost of living index.
Home Price Difference
$40,000
Chicago, IL is cheaper by 12.9%
Income Difference
$1,231
Chicago, IL earns more by 1.8%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Atlanta, GA
5.4x
$350,000 / $65,345
Chicago, IL
4.7x
$310,000 / $66,576
Overall, Chicago, IL is the more affordable city to live in. With a cost of living index of 105 compared to 100, a median home price of $310,000, and a price-to-income ratio of 4.7x, Chicago, IL offers better value for residents looking to stretch their dollar further. However, the median household income in Chicago, IL ($66,576) is higher, which may offset some of the cost differences.