Median rent is 24% lower in Iowa City ($1,094/mo vs $1,440/mo). Buying is cheaper in Iowa City, where the median home runs $285,900 versus $334,100. Households earn more in Chicago ($77,902 vs $58,546 a year).
City A
Chicago, IL
City B
Iowa City, IA
How much would you need to earn in Iowa City, IA to maintain your standard of living from Chicago, IL?
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 metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Chicago
Illinois
Iowa City
Iowa
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Iowa City — median rent of $1,094/mo versus $1,440/mo in Chicago, a 24% difference. Median home values are within 14% of each other: $334,100 in Chicago and $285,900 in Iowa City.
Metric
Chicago
Iowa City
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Chicago
Income tax: N/A
Sales tax: N/A
Iowa City
Income tax: N/A
Sales tax: N/A
Air quality data is available for Chicago (avg AQI 31.0) but not yet for Iowa City.
Pick Chicago if you prioritize higher median household income ($77,902/yr).
Pick Iowa City if you prioritize cheaper rent ($1,094/mo median).
Cost of living index data is not yet available for one or both cities.
Median rent is $1,440/mo in Chicago, IL and $1,094/mo in Iowa City, IA. Iowa City, IA has the lower rent by about 24%.
Median household income is $77,902 in Chicago, IL and $58,546 in Iowa City, IA. Chicago, IL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
State tax data is not yet available for one or both cities.
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
