Median rent is 28% lower in Chicago ($1,380/mo vs $1,917/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $924,700. Households earn more in Oakland ($97,369 vs $75,134 a year). Taken together, Chicago is the more affordable choice with a cost index of 105.7 against 118.0 — about 10% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Oakland, CA.
Quick verdict
Chicago is 10% cheaper overall
Cost index: 105.7 in Chicago vs 118.0 in Oakland (US average = 100)
City A
Chicago, IL
City B
Oakland, CA
How much would you need to earn in Oakland, CA to maintain your standard of living from Chicago, IL?
Equivalent salary in Oakland, CA
$83,725
You'd need $8,725 more (12% higher).
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
Oakland
California
👥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
Renters will find significantly cheaper housing in Chicago — median rent of $1,380/mo versus $1,917/mo in Oakland, a 28% difference. Home buyers face a steeper market in Oakland: the median home is $924,700 versus $315,200 in Chicago — 66% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Illinois's top income tax rate is 4.95% versus 13.30% in California, so Chicago is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 7.25% in California; Chicago has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Oakland
Income tax: 13.30%
Sales tax: 7.25%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 75.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Chicago if you prioritize lower overall cost of living (index 105.7 vs 118.0).
Pick Oakland if you prioritize higher median household income ($97,369/yr).
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Is Chicago cheaper than Oakland?
Chicago is cheaper overall, with a cost of living index of 105.7 versus 118.0 (US average = 100). That means prices run about 10% lower in Chicago.
How much is rent in Chicago vs Oakland?
Median rent is $1,380/mo in Chicago, IL and $1,917/mo in Oakland, CA. Chicago, IL has the lower rent by about 28%.
Which has higher salaries — Chicago or Oakland?
Median household income is $75,134 in Chicago, IL and $97,369 in Oakland, CA. Oakland, CA 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 75.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or Oakland?
Illinois's top income tax rate is 4.95% and California's is 13.30%. Chicago, IL has the lower rate.
What salary do I need in Oakland to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $111,633 in Oakland, CA (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