Median rent is 7% lower in Chicago ($1,380/mo vs $1,483/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $576,500. Households earn more in Chapel Hill ($85,825 vs $75,134 a year). Taken together, Chapel Hill is the more affordable choice with a cost index of 95.1 against 105.7 — about 10% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chapel Hill, NC.
Quick verdict
Chapel Hill is 10% cheaper overall
Cost index: 95.1 in Chapel Hill vs 105.7 in Chicago (US average = 100)
City A
Chapel Hill, NC
City B
Chicago, IL
How much would you need to earn in Chicago, IL to maintain your standard of living from Chapel Hill, NC?
Equivalent salary in Chicago, IL
$83,379
You'd need $8,379 more (11% higher).
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
Chapel Hill
North Carolina
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 $1,483/mo in Chapel Hill (7% gap). Home buyers face a steeper market in Chapel Hill: the median home is $576,500 versus $315,200 in Chicago — 45% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
North Carolina's top income tax rate is 4.50% versus 4.95% in Illinois, so Chapel Hill is more tax-friendly for high earners. Sales tax is 4.75% in North Carolina and 6.25% in Illinois; Chapel Hill has the lower rate (local add-ons may apply in both).
Chapel Hill
Income tax: 4.50%
Sales tax: 4.75%
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Chapel Hill.
Pick Chapel Hill if you prioritize lower overall cost of living (index 95.1 vs 105.7).
Pick Chapel Hill if you prioritize higher median household income ($85,825/yr).
Pick Chapel Hill if you prioritize lower state income tax (4.50%).
Is Chapel Hill cheaper than Chicago?
Chapel Hill is cheaper overall, with a cost of living index of 95.1 versus 105.7 (US average = 100). That means prices run about 10% lower in Chapel Hill.
How much is rent in Chapel Hill vs Chicago?
Median rent is $1,483/mo in Chapel Hill, NC and $1,380/mo in Chicago, IL. Chicago, IL has the lower rent by about 7%.
Which has higher salaries — Chapel Hill or Chicago?
Median household income is $85,825 in Chapel Hill, NC and $75,134 in Chicago, IL. Chapel Hill, NC 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 — Chapel Hill or Chicago?
North Carolina's top income tax rate is 4.50% and Illinois's is 4.95%. Chapel Hill, NC has the lower rate.
What salary do I need in Chicago to match my Chapel Hill income?
To maintain the same purchasing power, a salary of $100,000 in Chapel Hill, NC is equivalent to roughly $111,172 in Chicago, IL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology