Median rent is 5% lower in Chicago ($1,380/mo vs $1,456/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $395,300. Households earn more in Chicago ($75,134 vs $70,723 a year). Taken together, Las Vegas is the more affordable choice with a cost index of 96.5 against 105.7 — about 9% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Las Vegas, NV.
Quick verdict
Las Vegas is 9% cheaper overall
Cost index: 96.5 in Las Vegas vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Las Vegas, NV
How much would you need to earn in Las Vegas, NV to maintain your standard of living from Chicago, IL?
Equivalent salary in Las Vegas, NV
$68,455
You could earn $6,545 less (9% 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
Las Vegas
Nevada
👥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 rents are similar in both cities: $1,380/mo in Chicago and $1,456/mo in Las Vegas. Median home values are within 20% of each other: $315,200 in Chicago and $395,300 in Las Vegas.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Nevada has no state income tax, while Illinois tops out at 4.95% — giving Las Vegas a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.85% in Nevada; Chicago has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Las Vegas
Income tax: None
Sales tax: 6.85%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 23.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Las Vegas if you prioritize lower overall cost of living (index 96.5 vs 105.7).
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Las Vegas if you prioritize no state income tax.
Is Chicago cheaper than Las Vegas?
Las Vegas is cheaper overall, with a cost of living index of 96.5 versus 105.7 (US average = 100). That means prices run about 9% lower in Las Vegas.
How much is rent in Chicago vs Las Vegas?
Median rent is $1,380/mo in Chicago, IL and $1,456/mo in Las Vegas, NV. Chicago, IL has the lower rent by about 5%.
Which has higher salaries — Chicago or Las Vegas?
Median household income is $75,134 in Chicago, IL and $70,723 in Las Vegas, NV. 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?
Chicago, IL has better air quality on average: 21.0 AQI versus 23.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or Las Vegas?
Nevada has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Las Vegas to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $91,274 in Las Vegas, NV (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