Median rent is 8% lower in Chicago ($1,440/mo vs $1,561/mo). Buying is cheaper in Chicago, where the median home runs $334,100 versus $361,700. Households earn more in Bloomington ($93,211 vs $77,902 a year). Taken together, Chicago is the more affordable choice with a cost index of 102.5 against 104.3 — about 2% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Bloomington, MN.
Cost of living verdict
Chicago is 2% cheaper overall
Cost of Living Index: 102.5 in Chicago vs 104.3 in Bloomington (US national average = 100)
City A
Bloomington, MN
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Bloomington, MN?
Equivalent salary in Chicago, IL
$73,694
You could earn $1,306 less (2% 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
Bloomington
Minnesota
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 Chicago at $1,440/mo compared to $1,561/mo in Bloomington (8% gap). Median home values are within 8% of each other: $361,700 in Bloomington and $334,100 in Chicago.
Metric
Bloomington
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.
Bloomington
Income tax: N/A
Sales tax: N/A
Chicago
Income tax: N/A
Sales tax: N/A
Air quality data is available for Chicago (avg AQI 31.0) but not yet for Bloomington.
Pick Bloomington if you prioritize higher median household income ($93,211/yr).
Chicago is cheaper overall, with a cost of living index of 102.5 versus 104.3 (US average = 100). That means prices run about 2% lower in Chicago.
Median rent is $1,561/mo in Bloomington, MN and $1,440/mo in Chicago, IL. Chicago, IL has the lower rent by about 8%.
Median household income is $93,211 in Bloomington, MN and $77,902 in Chicago, IL. Bloomington, MN has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Bloomington, MN is equivalent to roughly $98,259 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
