A detailed side-by-side comparison of the cost of living, housing prices, income levels, and overall affordability between Chicago, IL and Orlando, FL.
IL
Population: 2,664,452
FL
Population: 320,742
National average = 100. Higher values indicate a more expensive area.
| Metric | Chicago, IL | Orlando, FL | Difference |
|---|---|---|---|
| Cost of Living Index | 105 | 102 | +2.9% |
| Median Home Price | $310,000 | $350,000 | -11.4% |
| Property Tax Rate | 1.73% | 0.86% | +101.2% |
| Median Household Income | $66,576 | $55,210 | +20.6% |
| Population | 2,664,452 | 320,742 | +730.7% |
Orlando, FL is 2.9% 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 11.4%
Income Difference
$11,366
Chicago, IL earns more by 20.6%
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
Orlando, FL
6.3x
$350,000 / $55,210
Overall, Chicago, IL is the more affordable city to live in. With a cost of living index of 105 compared to 102, 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.