A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Chicago, IL and Denver, CO.
IL
Population: 2,664,452
CO
Population: 711,463
National average = 100. Higher values indicate a more expensive area.
| Metric | Chicago, IL | Denver, CO | Difference |
|---|---|---|---|
| Cost of Living Index | 105 | 130 | -19.2% |
| Median Home Price | $310,000 | $525,000 | -41.0% |
| Property Tax Rate | 1.73% | 0.56% | +208.9% |
| Median Household Income | $66,576 | $78,177 | -14.8% |
| Population | 2,664,452 | 711,463 | +274.5% |
Chicago, IL is 19.2% cheaper to live in than Denver, CO, based on the overall cost of living index.
Home Price Difference
$215,000
Chicago, IL is cheaper by 41.0%
Income Difference
$11,601
Denver, CO earns more by 14.8%
Price-to-income ratio: median home price divided by median household income. A lower ratio indicates more affordable housing.
Chicago, IL
4.7x
$310,000 / $66,576
Denver, CO
6.7x
$525,000 / $78,177
Overall, Chicago, IL is the more affordable city to live in. With a cost of living index of 105 compared to 130, 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 Denver, CO ($78,177) is higher, which may offset some of the cost differences.