Median rent is 9% lower in Chicago ($1,380/mo vs $1,512/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $366,200. Households earn more in Carrollwood ($76,723 vs $75,134 a year).
City A
Carrollwood, FL
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Carrollwood, 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
Carrollwood
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
Median rent is modestly lower in Chicago at $1,380/mo compared to $1,512/mo in Carrollwood (9% gap). Median home values are within 14% of each other: $366,200 in Carrollwood 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 Carrollwood a clear advantage for high earners. Sales tax is 6.00% in Florida and 6.25% in Illinois; Carrollwood has the lower rate (local add-ons may apply in both).
Carrollwood
Income tax: None
Sales tax: 6.00%
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Carrollwood.
Pick Carrollwood if you prioritize no state income tax.
Is Carrollwood cheaper than Chicago?
Cost of living index data is not yet available for one or both cities.
How much is rent in Carrollwood vs Chicago?
Median rent is $1,512/mo in Carrollwood, FL and $1,380/mo in Chicago, IL. Chicago, IL has the lower rent by about 9%.
Which has higher salaries — Carrollwood or Chicago?
Median household income is $76,723 in Carrollwood, FL and $75,134 in Chicago, IL. Carrollwood, 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?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Carrollwood 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 Carrollwood 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