Median rent is 21% lower in Billings ($1,097/mo vs $1,380/mo). Buying is cheaper in Billings, where the median home runs $311,800 versus $315,200. Households earn more in Chicago ($75,134 vs $71,855 a year).
City A
Billings, MT
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Billings, MT?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Billings
Montana
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 Billings — median rent of $1,097/mo versus $1,380/mo in Chicago, a 21% difference. Median home values are within 1% of each other: $311,800 in Billings and $315,200 in Chicago.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Montana's top income tax rate is 5.90% versus 4.95% in Illinois, so Chicago is more tax-friendly for high earners. Sales tax is 0.00% in Montana and 6.25% in Illinois; Billings has the lower rate (local add-ons may apply in both).
Billings
Income tax: 5.90%
Sales tax: None
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Billings.
Pick Billings if you prioritize cheaper rent ($1,097/mo median).
Pick Chicago if you prioritize lower state income tax (4.95%).
Is Billings cheaper than Chicago?
Cost of living index data is not yet available for one or both cities.
How much is rent in Billings vs Chicago?
Median rent is $1,097/mo in Billings, MT and $1,380/mo in Chicago, IL. Billings, MT has the lower rent by about 21%.
Which has higher salaries — Billings or Chicago?
Median household income is $71,855 in Billings, MT 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?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Billings or Chicago?
Montana's top income tax rate is 5.90% and Illinois's is 4.95%. Chicago, IL has the lower rate.
What salary do I need in Chicago to match my Billings income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology