Median rent is 21% lower in Chicago ($1,380/mo vs $1,751/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $339,200. Households earn more in Cape Coral ($76,062 vs $75,134 a year).
City A
Cape Coral, FL
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Cape Coral, FL?
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
Cape Coral
Florida
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 $1,751/mo in Cape Coral, a 21% difference. Median home values are within 7% of each other: $339,200 in Cape Coral and $315,200 in Chicago.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Florida has no state income tax, while Illinois tops out at 4.95% — giving Cape Coral a clear advantage for high earners. Sales tax is 6.00% in Florida and 6.25% in Illinois; Cape Coral has the lower rate (local add-ons may apply in both).
Cape Coral
Income tax: None
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 24.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Cape Coral if you prioritize no state income tax.
Is Cape Coral cheaper than Chicago?
Cost of living index data is not yet available for one or both cities.
How much is rent in Cape Coral vs Chicago?
Median rent is $1,751/mo in Cape Coral, FL and $1,380/mo in Chicago, IL. Chicago, IL has the lower rent by about 21%.
Which has higher salaries — Cape Coral or Chicago?
Median household income is $76,062 in Cape Coral, FL and $75,134 in Chicago, IL. Cape Coral, FL 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 24.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Cape Coral or Chicago?
Florida has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Chicago to match my Cape Coral 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