Cost of Living: Austin, TX vs Chicago, IL
Austin is about 5% cheaper than Chicago overall.
Comparing Austin, TX and Chicago, IL across cost of living, rent, income, and the salary needed to live comfortably. Austin has a lower overall price level, driven mainly by housing.
Side-by-Side Comparison
| Metric | Austin | Chicago |
|---|---|---|
| Cost of living index | 98.1 | 103.6 |
| Median rent | $1,655 | $1,380 |
| Rent, 1-bedroom (FMR) | $1,562 | $1,581 |
| Rent, 2-bedroom (FMR) | $1,852 | $1,781 |
| Median home value | $512,700 | $315,200 |
| Median household income | $91,461 | $75,134 |
| Salary needed (single) | $62,500 | $63,200 |
| Salary needed (family) | $93,900 | $91,800 |
Green highlights the more favorable value for each metric. Lower is better for costs; higher is better for income. Figures are estimates from public data (BEA, Census, HUD).
Which City Is More Affordable?
Overall, Austin is the more affordable of the two, with a cost-of-living index of 98.1 versus 103.6 for Chicago. The biggest difference is usually housing, where rents in Chicago run noticeably higher.
You can read the full breakdown for each city on its own page: cost of living in Austin and cost of living in Chicago.
Frequently Asked Questions
Is it cheaper to live in Austin or Chicago?
Austin is about 5% cheaper than Chicago overall, based on the BEA cost-of-living index (Austin: 98.1 vs Chicago: 103.6).
What is the rent difference between Austin and Chicago?
The median rent is $1,655 in Austin and $1,380 in Chicago.
How much salary do you need in Austin vs Chicago?
A single person needs about $62,500 in Austin and $63,200 in Chicago to live comfortably.
Data Sources
Cost-of-living index from the U.S. Bureau of Economic Analysis (Regional Price Parities). Income, rent, and home value from the U.S. Census Bureau (American Community Survey 5-Year). Fair Market Rents from the U.S. Department of Housing and Urban Development.