A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Austin, TX and Chicago, IL.
TX
Population: 979,882
IL
Population: 2,664,452
National average = 100. Higher values indicate a more expensive area.
| Metric | Austin, TX | Chicago, IL | Difference |
|---|---|---|---|
| Cost of Living Index | 110 | 105 | +4.8% |
| Median Home Price | $425,000 | $310,000 | +37.1% |
| Property Tax Rate | 1.68% | 1.73% | -2.9% |
| Median Household Income | $80,954 | $66,576 | +21.6% |
| Population | 979,882 | 2,664,452 | -63.2% |
Chicago, IL is 4.8% cheaper to live in than Austin, TX, based on the overall cost of living index.
Home Price Difference
$115,000
Chicago, IL is cheaper by 37.1%
Income Difference
$14,378
Austin, TX earns more by 21.6%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Austin, TX
5.2x
$425,000 / $80,954
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 110, 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 Austin, TX ($80,954) is higher, which may offset some of the cost differences.