Median rent is 10% lower in Daytona Beach ($1,239/mo vs $1,380/mo). Buying is cheaper in Daytona Beach, where the median home runs $244,300 versus $315,200. Households earn more in Chicago ($75,134 vs $50,130 a year). Taken together, Daytona Beach is the more affordable choice with a cost index of 98.8 against 105.7 — about 7% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chicago, IL.
Quick verdict
Daytona Beach is 7% cheaper overall
Cost index: 98.8 in Daytona Beach vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Daytona Beach, FL
How much would you need to earn in Daytona Beach, FL to maintain your standard of living from Chicago, IL?
Equivalent salary in Daytona Beach, FL
$70,106
You could earn $4,894 less (7% lower) and break even.
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
Chicago
Illinois
Daytona Beach
Florida
👥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 Daytona Beach at $1,239/mo compared to $1,380/mo in Chicago (10% gap). Home buyers face a steeper market in Chicago: the median home is $315,200 versus $244,300 in Daytona Beach — 22% more expensive.
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 Daytona Beach a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.00% in Florida; Daytona Beach has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Daytona Beach
Income tax: None
Sales tax: 6.00%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Daytona Beach.
Pick Daytona Beach if you prioritize lower overall cost of living (index 98.8 vs 105.7).
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Daytona Beach if you prioritize no state income tax.
Is Chicago cheaper than Daytona Beach?
Daytona Beach is cheaper overall, with a cost of living index of 98.8 versus 105.7 (US average = 100). That means prices run about 7% lower in Daytona Beach.
How much is rent in Chicago vs Daytona Beach?
Median rent is $1,380/mo in Chicago, IL and $1,239/mo in Daytona Beach, FL. Daytona Beach, FL has the lower rent by about 10%.
Which has higher salaries — Chicago or Daytona Beach?
Median household income is $75,134 in Chicago, IL and $50,130 in Daytona Beach, FL. 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 — Chicago or Daytona Beach?
Florida has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Daytona Beach to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $93,474 in Daytona Beach, FL (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