Median rent is 12% lower in New Orleans ($1,211/mo vs $1,380/mo). Buying is cheaper in New Orleans, where the median home runs $296,400 versus $315,200. Households earn more in Chicago ($75,134 vs $55,339 a year). Taken together, New Orleans is the more affordable choice with a cost index of 93.7 against 105.7 — about 11% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chicago, IL.
Quick verdict
New Orleans is 11% cheaper overall
Cost index: 93.7 in New Orleans vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
New Orleans, LA
How much would you need to earn in New Orleans, LA to maintain your standard of living from Chicago, IL?
Equivalent salary in New Orleans, LA
$66,509
You could earn $8,491 less (11% 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
New Orleans
Louisiana
👥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 New Orleans at $1,211/mo compared to $1,380/mo in Chicago (12% gap). Median home values are within 6% of each other: $315,200 in Chicago and $296,400 in New Orleans.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Illinois's top income tax rate is 4.95% versus 4.25% in Louisiana, so New Orleans is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 4.45% in Louisiana; New Orleans has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
New Orleans
Income tax: 4.25%
Sales tax: 4.45%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 52.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick New Orleans if you prioritize lower overall cost of living (index 93.7 vs 105.7).
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick New Orleans if you prioritize cheaper rent ($1,211/mo median).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Is Chicago cheaper than New Orleans?
New Orleans is cheaper overall, with a cost of living index of 93.7 versus 105.7 (US average = 100). That means prices run about 11% lower in New Orleans.
How much is rent in Chicago vs New Orleans?
Median rent is $1,380/mo in Chicago, IL and $1,211/mo in New Orleans, LA. New Orleans, LA has the lower rent by about 12%.
Which has higher salaries — Chicago or New Orleans?
Median household income is $75,134 in Chicago, IL and $55,339 in New Orleans, LA. 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 52.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or New Orleans?
Illinois's top income tax rate is 4.95% and Louisiana's is 4.25%. New Orleans, LA has the lower rate.
What salary do I need in New Orleans to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $88,678 in New Orleans, LA (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