Chicago vs Phoenix
Chicago, IL · Phoenix, AZ
Phoenix is 7% cheaper than Chicago overall.
Home Price
Chicago: $315,000
Phoenix: $420,000
Monthly Rent
Chicago: $2,288/mo
Phoenix: $1,150/mo
COL Index
Chicago: 114
Phoenix: 106
Median Income
Chicago: $70,100
Phoenix: $67,600
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 $92,982 in Phoenix — based on each city's cost of living index.
Housing
Homes in Phoenix are 33% cheaper (-$105,000 less). That's a significant down payment and monthly payment difference.
Renting
Renting in Phoenix saves you $1,138/month — $13,656 per year. Median rent: $2,288/mo in Chicago vs $1,150/mo in Phoenix.
Property Taxes
On a median-priced home, Chicago owners pay roughly $6,615/year in property taxes vs $2,604/year in Phoenix. That's a $4,011 annual difference.
Local Earnings
Median household income is $70,100 in Chicago and $67,600 in Phoenix. Incomes are similar, so cost of living differences matter more.
Daily Commute
Average commute is 31 minutes in Chicago vs 26 minutes in Phoenix. Over a year, that's 2500 extra minutes (42 hours) of commuting in Chicago.
Salary Equivalence
To maintain the same lifestyle when moving from Chicago to Phoenix, here's the salary you'd need:
| Salary in Chicago | Equivalent in Phoenix | Difference |
|---|---|---|
| $50,000 | $46,491 | -$3,509 |
| $75,000 | $69,737 | -$5,263 |
| $100,000 | $92,982 | -$7,018 |
| $150,000 | $139,474 | -$10,526 |
| $200,000 | $185,965 | -$14,035 |
* 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
Full cost of living comparison tool
Home Appreciation
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Affordability Calculator
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Property Tax Calculator
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Chicago Calculators
Phoenix Calculators
Related Comparisons
Chicago vs Phoenix: Common Questions
Is Chicago or Phoenix cheaper to live in?
Based on cost of living indices, Phoenix is cheaper overall. Chicago has a COL index of 114 while Phoenix scores 106 (national average = 100).
How do home prices compare between Chicago and Phoenix?
The median home price in Chicago is $315,000 vs $420,000 in Phoenix — a difference of $105,000 (33%).
What salary do I need in Phoenix to match my Chicago income?
Use the salary equivalence table above. For example, a $100K salary in Chicago is equivalent to $92,982 in Phoenix in terms of purchasing power.
Which city has lower property taxes?
Phoenix has a lower property tax rate (0.62% vs 2.1%). On a median-priced home, that means paying $2,604/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.