Median rent is 13% lower in New Orleans ($1,251/mo vs $1,440/mo). Buying is cheaper in New Orleans, where the median home runs $315,700 versus $334,100. Households earn more in Chicago ($77,902 vs $56,631 a year). Taken together, New Orleans is the more affordable choice with a cost index of 91.2 against 102.5 — about 11% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chicago, IL.
Cost of living verdict
New Orleans is 11% cheaper overall
Cost of Living Index: 91.2 in New Orleans vs 102.5 in Chicago (US national 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
$66,736
You could earn $8,264 less (11% lower) and break even.
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
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in New Orleans at $1,251/mo compared to $1,440/mo in Chicago (13% gap). Median home values are within 6% of each other: $334,100 in Chicago and $315,700 in New Orleans.
Metric
Chicago
New Orleans
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
New Orleans
Income tax: N/A
Sales tax: N/A
Chicago has cleaner air on average: 31.0 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 91.2 vs 102.5).
Pick Chicago if you prioritize higher median household income ($77,902/yr).
Pick New Orleans if you prioritize cheaper rent ($1,251/mo median).
Pick Chicago if you prioritize cleaner air quality (avg AQI 31.0).
New Orleans is cheaper overall, with a cost of living index of 91.2 versus 102.5 (US average = 100). That means prices run about 11% lower in New Orleans.
Median rent is $1,440/mo in Chicago, IL and $1,251/mo in New Orleans, LA. New Orleans, LA has the lower rent by about 13%.
Median household income is $77,902 in Chicago, IL and $56,631 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.
Chicago, IL has better air quality on average: 31.0 AQI versus 52.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $88,982 in New Orleans, LA (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
