Median rent is 7% lower in Baltimore ($1,290/mo vs $1,380/mo). Buying is cheaper in Baltimore, where the median home runs $219,300 versus $315,200. Households earn more in Chicago ($75,134 vs $59,623 a year). Taken together, Baltimore is the more affordable choice with a cost index of 102.4 against 105.7 — about 3% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chicago, IL.
Quick verdict
Baltimore is 3% cheaper overall
Cost index: 102.4 in Baltimore vs 105.7 in Chicago (US 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
$77,407
You'd need $2,407 more (3% 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
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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Baltimore at $1,290/mo compared to $1,380/mo in Chicago (7% gap). Home buyers face a steeper market in Chicago: the median home is $315,200 versus $219,300 in Baltimore — 30% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Maryland's top income tax rate is 5.75% versus 4.95% in Illinois, so Chicago is more tax-friendly for high earners. Sales tax is 6.00% in Maryland and 6.25% in Illinois; Baltimore has the lower rate (local add-ons may apply in both).
Baltimore
Income tax: 5.75%
Sales tax: 6.00%
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 53.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Baltimore if you prioritize lower overall cost of living (index 102.4 vs 105.7).
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Pick Chicago if you prioritize lower state income tax (4.95%).
Is Baltimore cheaper than Chicago?
Baltimore is cheaper overall, with a cost of living index of 102.4 versus 105.7 (US average = 100). That means prices run about 3% lower in Baltimore.
How much is rent in Baltimore vs Chicago?
Median rent is $1,290/mo in Baltimore, MD and $1,380/mo in Chicago, IL. Baltimore, MD has the lower rent by about 7%.
Which has higher salaries — Baltimore or Chicago?
Median household income is $59,623 in Baltimore, MD and $75,134 in Chicago, IL. Chicago, IL 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?
Chicago, IL has better air quality on average: 21.0 AQI versus 53.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Baltimore or Chicago?
Maryland's top income tax rate is 5.75% and Illinois's is 4.95%. Chicago, IL has the lower rate.
What salary do I need in Chicago to match my Baltimore income?
To maintain the same purchasing power, a salary of $100,000 in Baltimore, MD is equivalent to roughly $103,209 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