Median rent is 15% lower in Cedar Falls ($1,177/mo vs $1,380/mo). Buying is cheaper in Cedar Falls, where the median home runs $252,500 versus $315,200. Households earn more in Chicago ($75,134 vs $74,165 a year).
City A
Cedar Falls, IA
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Cedar Falls, IA?
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
Cedar Falls
Iowa
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 Cedar Falls at $1,177/mo compared to $1,380/mo in Chicago (15% gap). Median home values are within 20% of each other: $252,500 in Cedar Falls and $315,200 in Chicago.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Iowa's top income tax rate is 5.70% versus 4.95% in Illinois, so Chicago is more tax-friendly for high earners. Sales tax is 6.00% in Iowa and 6.25% in Illinois; Cedar Falls has the lower rate (local add-ons may apply in both).
Cedar Falls
Income tax: 5.70%
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 Cedar Falls.
Pick Cedar Falls if you prioritize cheaper rent ($1,177/mo median).
Pick Chicago if you prioritize lower state income tax (4.95%).
Is Cedar Falls cheaper than Chicago?
Cost of living index data is not yet available for one or both cities.
How much is rent in Cedar Falls vs Chicago?
Median rent is $1,177/mo in Cedar Falls, IA and $1,380/mo in Chicago, IL. Cedar Falls, IA has the lower rent by about 15%.
Which has higher salaries — Cedar Falls or Chicago?
Median household income is $74,165 in Cedar Falls, IA 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 — Cedar Falls or Chicago?
Iowa's top income tax rate is 5.70% and Illinois's is 4.95%. Chicago, IL has the lower rate.
What salary do I need in Chicago to match my Cedar Falls 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