Median rent is 8% lower in Baltimore ($1,331/mo vs $1,440/mo). Buying is cheaper in Baltimore, where the median home runs $229,600 versus $334,100. Households earn more in Chicago ($77,902 vs $62,177 a year). Taken together, Chicago is the more affordable choice with a cost index of 102.5 against 103.2 — about 1% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chicago, IL.
Cost of living verdict
Chicago is 1% cheaper overall
Cost of Living Index: 102.5 in Chicago vs 103.2 in Baltimore (US national average = 100)
City A
Baltimore, MD
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Baltimore, MD?
Equivalent salary in Chicago, IL
$74,493
You could earn $507 less (1% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Baltimore
Maryland
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in Baltimore at $1,331/mo compared to $1,440/mo in Chicago (8% gap). Home buyers face a steeper market in Chicago: the median home is $334,100 versus $229,600 in Baltimore — 31% more expensive.
Metric
Baltimore
Chicago
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Baltimore
Income tax: N/A
Sales tax: N/A
Chicago
Income tax: N/A
Sales tax: N/A
Baltimore has cleaner air on average: 25.0 AQI (Good) compared to 31.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Chicago if you prioritize higher median household income ($77,902/yr).
Pick Baltimore if you prioritize cleaner air quality (avg AQI 25.0).
Chicago is cheaper overall, with a cost of living index of 102.5 versus 103.2 (US average = 100). That means prices run about 1% lower in Chicago.
Median rent is $1,331/mo in Baltimore, MD and $1,440/mo in Chicago, IL. Baltimore, MD has the lower rent by about 8%.
Median household income is $62,177 in Baltimore, MD and $77,902 in Chicago, IL. Chicago, IL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Baltimore, MD has better air quality on average: 25.0 AQI versus 31.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Baltimore, MD is equivalent to roughly $99,324 in Chicago, IL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
