Chicago vs Indianapolis
Chicago, IL · Indianapolis, IN
Indianapolis is 23% cheaper than Chicago overall.
Home Price
Chicago: $315,000
Indianapolis: $260,000
Monthly Rent
Chicago: $2,288/mo
Indianapolis: $915/mo
COL Index
Chicago: 114
Indianapolis: 88
Median Income
Chicago: $70,100
Indianapolis: $64,200
Side-by-Side Comparison
Median Home Price
Monthly Rent (Median)
Median Household Income
Property Tax Rate
Cost of Living Index
100 = national average
Avg. Commute
Unemployment Rate
Median Age
What This Means For You
Buying Power
A $100,000 salary in Chicago has the same purchasing power as $77,193 in Indianapolis — based on each city's cost of living index.
Housing
Homes in Indianapolis cost 17% more (-$55,000 extra). Expect a larger mortgage and down payment.
Renting
Renting in Indianapolis saves you $1,373/month — $16,476 per year. Median rent: $2,288/mo in Chicago vs $915/mo in Indianapolis.
Property Taxes
On a median-priced home, Chicago owners pay roughly $6,615/year in property taxes vs $2,158/year in Indianapolis. That's a $4,457 annual difference.
Local Earnings
Median household income is $70,100 in Chicago and $64,200 in Indianapolis. Indianapolis residents earn 8% more — but remember to factor in cost of living.
Daily Commute
Average commute is 31 minutes in Chicago vs 24 minutes in Indianapolis. Over a year, that's 3500 extra minutes (58 hours) of commuting in Chicago.
Salary Equivalence
To maintain the same lifestyle when moving from Chicago to Indianapolis, here's the salary you'd need:
| Salary in Chicago | Equivalent in Indianapolis | Difference |
|---|---|---|
| $50,000 | $38,596 | -$11,404 |
| $75,000 | $57,895 | -$17,105 |
| $100,000 | $77,193 | -$22,807 |
| $150,000 | $115,789 | -$34,211 |
| $200,000 | $154,386 | -$45,614 |
* Calculated using cost of living indices (national average = 100). Does not account for state income tax differences.
Run the Numbers
Mortgage Calculator
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Rent vs Buy
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Cost of Living
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Property Tax Calculator
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Chicago vs Indianapolis: Common Questions
Is Chicago or Indianapolis cheaper to live in?
Based on cost of living indices, Indianapolis is cheaper overall. Chicago has a COL index of 114 while Indianapolis scores 88 (national average = 100).
How do home prices compare between Chicago and Indianapolis?
The median home price in Chicago is $315,000 vs $260,000 in Indianapolis — a difference of $55,000 (17%).
What salary do I need in Indianapolis to match my Chicago income?
Use the salary equivalence table above. For example, a $100K salary in Chicago is equivalent to $77,193 in Indianapolis in terms of purchasing power.
Which city has lower property taxes?
Indianapolis has a lower property tax rate (0.83% vs 2.1%). On a median-priced home, that means paying $2,158/year vs $6,615/year.
Cost of living data sourced from Council for Community and Economic Research (C2ER) Cost of Living Index, U.S. Census Bureau American Community Survey, and Zillow Research. Tax rates from Tax Foundation and state revenue agencies. Last updated: March 2025.