A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Chicago, IL and Houston, TX.
IL
Population: 2,664,452
TX
Population: 2,302,878
National average = 100. Higher values indicate a more expensive area.
| Metric | Chicago, IL | Houston, TX | Difference |
|---|---|---|---|
| Cost of Living Index | 105 | 95 | +10.5% |
| Median Home Price | $310,000 | $300,000 | +3.3% |
| Property Tax Rate | 1.73% | 1.82% | -4.9% |
| Median Household Income | $66,576 | $57,791 | +15.2% |
| Population | 2,664,452 | 2,302,878 | +15.7% |
Houston, TX is 10.5% cheaper to live in than Chicago, IL, based on the overall cost of living index.
Home Price Difference
$10,000
Houston, TX is cheaper by 3.3%
Income Difference
$8,785
Chicago, IL earns more by 15.2%
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
Houston, TX
5.2x
$300,000 / $57,791
Overall, Houston, TX is the more affordable city to live in. With a cost of living index of 95 compared to 105, a median home price of $300,000, and a price-to-income ratio of 5.2x, Houston, TX 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.