Median rent is 17% lower in Chicago ($1,380/mo vs $1,671/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $398,600. Households earn more in Georgetown ($91,857 vs $75,134 a year). Taken together, Georgetown 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 Georgetown, TX.
Quick verdict
Georgetown is 7% cheaper overall
Cost index: 98.8 in Georgetown vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Georgetown, TX
How much would you need to earn in Georgetown, TX to maintain your standard of living from Chicago, IL?
Equivalent salary in Georgetown, TX
$70,107
You could earn $4,893 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
Georgetown
Texas
👥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 $1,671/mo in Georgetown (17% gap). Home buyers face a steeper market in Georgetown: the median home is $398,600 versus $315,200 in Chicago — 21% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Texas has no state income tax, while Illinois tops out at 4.95% — giving Georgetown a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.25% in Texas; Georgetown has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Georgetown
Income tax: None
Sales tax: 6.25%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Georgetown.
Pick Georgetown if you prioritize lower overall cost of living (index 98.8 vs 105.7).
Pick Georgetown if you prioritize higher median household income ($91,857/yr).
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Georgetown if you prioritize no state income tax.
Is Chicago cheaper than Georgetown?
Georgetown 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 Georgetown.
How much is rent in Chicago vs Georgetown?
Median rent is $1,380/mo in Chicago, IL and $1,671/mo in Georgetown, TX. Chicago, IL has the lower rent by about 17%.
Which has higher salaries — Chicago or Georgetown?
Median household income is $75,134 in Chicago, IL and $91,857 in Georgetown, TX. Georgetown, TX 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 Georgetown?
Texas has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Georgetown to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $93,476 in Georgetown, TX (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