Wondering how far your dollar stretches in Austin compared to Chicago? Below we break down housing costs, rent, taxes, income, and quality of life using 2026 data so you can make an informed relocation or remote-work decision. Every number is computed from Census, BLS, and Zillow data specific to these two metro areas.
| Austin | Metric | Chicago | Difference |
|---|---|---|---|
| 121 | Cost of Living Index | 114 | -5.8% |
| $500,000 | Median Home Price | $315,000 | -37.0% |
| $1,300 | Median Monthly Rent | $2,288 | +76.0% |
| $83,800 | Median Household Income | $70,100 | -16.3% |
| 1.8% | Property Tax Rate | 2.1% | +16.7% |
| 3.1% | Unemployment Rate | 4.6% | +48.4% |
| 27 min | Average Commute | 31 min | +14.8% |
| 34 | Median Age | 36.7 | +7.9% |
| 2,300,000 | Metro Population | 9,560,000 | +315.7% |
Data sourced from Census Bureau, BLS, Zillow, and ApartmentAdvisor (2024-2025). COL Index: 100 = national average.
Monthly mortgage assumes 6.5% interest, 30-year fixed, 20.0%down payment. PITI includes principal, interest, property tax, and homeowner's insurance.
Buying a home in Austin costs $3,424/month (PITI) compared to $2,236/month in Chicago — a difference of $1,188/month or $14,256/year. The price-to-income ratio is 6.0x in Austin versus 4.5x in Chicago, suggesting Chicago is relatively more affordable for homebuyers relative to local incomes. At a 15% savings rate, it takes 8.0 years to save a down payment in Austin compared to 6.0 years in Chicago.
Estimated on each city's median household income, single filer, standard deduction, 2025 rates.
| Tax Category | Austin | Chicago |
|---|---|---|
| Gross Income | $83,800 | $70,100 |
| State Income Tax | None | $3,329 |
| Federal Income Tax | $9,885 | $6,871 |
| FICA (SS + Medicare) | $6,411 | $5,362 |
| Property Tax (on median home) | $9,000/yr | $6,615/yr |
| State Sales Tax Rate | 6.3% | 6.3% |
| Total Tax Burden | $16,296 (19.4%) | $15,562 (22.2%) |
| Take-Home Pay | $67,504 | $54,538 |
Texas has no state income tax, giving Austin residents a significant tax advantage. On median household income, total taxes (federal + state + FICA) come to $16,296 in Austin (19.4% effective) versus $15,562 in Chicago (22.2% effective). After taxes, take-home pay is $67,504 in Austin and $54,538 in Chicago. Property taxes add $9,000/year on the median Austin home versus $6,615/year in Chicago.
These figures adjust for cost of living using the formula: adjusted = salary × (COL_destination / COL_origin). If you earn $83,800 in Austin (COL 121) and relocate to Chicago (COL 114), you would need $78,952 to maintain the same purchasing power. This means you can take a pay cut of $4,848 and still maintain your lifestyle in Chicago.
Beyond costs, quality of life matters. The average commute in Austin is 27 minutes versus 31 minutes in Chicago, a difference of 4 minutes each way. Austin's lower unemployment rate of 3.1% versus 4.6% suggests a stronger job market. Chicago skews slightly older with a median age of 36.7 vs 34 in Austin.
Austin is 5.8% more expensive than Chicago overall. Austin has a cost of living index of 121 compared to 114 for Chicago (national average = 100). The biggest difference is housing: the median home costs $500,000 in Austin vs $315,000 in Chicago.
The median home price in Austin is $500,000, which is $185,000 more than Chicago's median of $315,000. Monthly rent follows a similar pattern: $1,300/month in Austin vs $2,288/month in Chicago, a difference of $988/month or $11,856/year.
To maintain the same standard of living, a $83,800 salary in Austin is equivalent to $78,952 in Chicago. This is based on the cost of living index ratio: Austin's COL index of 121 vs Chicago's 114. Conversely, $70,100 in Chicago equals $74,404 in Austin.
On a median household income, the combined federal, state, and FICA tax burden is $16,296 (19.4% effective rate) in Austin vs $15,562 (22.2% effective rate) in Chicago. Property taxes on the median home are $9,000/year in Austin (1.8% rate) vs $6,615/year in Chicago (2.1% rate). Sales tax rates are 6.3% in Texas and 6.3% in Illinois.
Austin median household income: $83,800/yr. Chicago median household income: $70,100/yr (Census ACS).
Median monthly rent: $1,300 in Austin vs $2,288 in Chicago. Annualized that is $15,600 vs $27,456.
Chicago offers a lower cost of living (index 114 vs 121), which lets remote-workers keeping a coastal salary stretch further. Austin typically wins on amenities and labor-market depth.
Austin and Chicago numbers are pulled from Zillow ZHVI/ZORI (home values, rent), the U.S. Census Bureau ACS (income, demographics), and BEA RPP (cost-of-living index). Each value is timestamped on the page.
Source feeds (Zillow, Freddie Mac PMMS, Census ACS, BEA RPP) are refreshed on their native cadence. Page caches revalidate every 24 hours via Next.js ISR.
No. The Austin vs Chicago cost-of-living page is educational reference using public data and standard formulas. It is not personalized tax, legal, or investment advice. Consult a licensed professional for material decisions.
Home prices use Zillow Home Value Index (ZHVI)[1]; rents use Zillow Observed Rent Index (ZORI)[1]. Median household income comes from the Census ACS 5-year estimates[2].
COL indices use the BEA Regional Price Parity methodology[3], normalized so 100 = national average.
Property tax rates are effective rates from the Tax Foundation[4], expressed as % of owner-occupied home value. Mortgage estimates assume 6.5% fixed rate[5], 30-year term, 20.0% down, $1,800/yr homeowners insurance.
Federal tax calculations[6] assume single filer, standard deduction. State tax uses the top marginal rate times taxable income after the state standard deduction. FICA = 6.2% Social Security (up to wage base) + 1.45% Medicare.
Salary equivalence uses adjusted = salary × (COL_destination / COL_origin). This captures cost-of-living shift but not state income tax differences.
Unemployment figures are the most recent monthly MSA-level readings from the BLS LAUS series[7].
Last reviewed is computed from the maximum retrievedAt across every source this page consumes.
City data from Census Bureau[2], BLS[7], and Zillow[1] (2024-2025). Tax calculations use 2025 IRS rates[6], single filer, standard deduction. Mortgage estimates assume 6.5% PMMS rate[5], 30-year term, 20.0% down. COL Index: 100 = national average[3]. Last reviewed .