Median rent is 26% lower in Chicago ($1,380/mo vs $1,877/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $429,900. Households earn more in Allen ($129,130 vs $75,134 a year). Taken together, Allen is the more affordable choice with a cost index of 98.1 against 105.7 — about 7% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Allen, TX.
Quick verdict
Allen is 7% cheaper overall
Cost index: 98.1 in Allen vs 105.7 in Chicago (US average = 100)
City A
Allen, TX
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Allen, TX?
Equivalent salary in Chicago, IL
$80,842
You'd need $5,842 more (8% higher).
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Allen
Texas
Chicago
Illinois
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Chicago — median rent of $1,380/mo versus $1,877/mo in Allen, a 26% difference. Home buyers face a steeper market in Allen: the median home is $429,900 versus $315,200 in Chicago — 27% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Texas has no state income tax, while Illinois tops out at 4.95% — giving Allen a clear advantage for high earners. Sales tax is 6.25% in Texas and 6.25% in Illinois; Chicago has the lower rate (local add-ons may apply in both).
Allen
Income tax: None
Sales tax: 6.25%
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Allen.
Pick Allen if you prioritize lower overall cost of living (index 98.1 vs 105.7).
Pick Allen if you prioritize higher median household income ($129,130/yr).
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Allen if you prioritize no state income tax.
Is Allen cheaper than Chicago?
Allen is cheaper overall, with a cost of living index of 98.1 versus 105.7 (US average = 100). That means prices run about 7% lower in Allen.
How much is rent in Allen vs Chicago?
Median rent is $1,877/mo in Allen, TX and $1,380/mo in Chicago, IL. Chicago, IL has the lower rent by about 26%.
Which has higher salaries — Allen or Chicago?
Median household income is $129,130 in Allen, TX and $75,134 in Chicago, IL. Allen, TX has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Allen or Chicago?
Texas has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Chicago to match my Allen income?
To maintain the same purchasing power, a salary of $100,000 in Allen, TX is equivalent to roughly $107,790 in Chicago, IL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology