Median rent is 22% lower in Oklahoma City ($1,083/mo vs $1,380/mo). Buying is cheaper in Oklahoma City, where the median home runs $215,100 versus $315,200. Households earn more in Chicago ($75,134 vs $66,702 a year). Taken together, Oklahoma City is the more affordable choice with a cost index of 91.4 against 105.7 — about 14% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Oklahoma City, OK.
Quick verdict
Oklahoma City is 14% cheaper overall
Cost index: 91.4 in Oklahoma City vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Oklahoma City, OK
How much would you need to earn in Oklahoma City, OK to maintain your standard of living from Chicago, IL?
Equivalent salary in Oklahoma City, OK
$64,815
You could earn $10,185 less (14% 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
Oklahoma City
Oklahoma
👥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 Oklahoma City — median rent of $1,083/mo versus $1,380/mo in Chicago, a 22% difference. Home buyers face a steeper market in Chicago: the median home is $315,200 versus $215,100 in Oklahoma City — 32% 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 4.75% in Oklahoma, so Oklahoma City is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 4.50% in Oklahoma; Oklahoma City has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Oklahoma City
Income tax: 4.75%
Sales tax: 4.50%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 51.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Oklahoma City if you prioritize lower overall cost of living (index 91.4 vs 105.7).
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Oklahoma City if you prioritize cheaper rent ($1,083/mo median).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Is Chicago cheaper than Oklahoma City?
Oklahoma City is cheaper overall, with a cost of living index of 91.4 versus 105.7 (US average = 100). That means prices run about 14% lower in Oklahoma City.
How much is rent in Chicago vs Oklahoma City?
Median rent is $1,380/mo in Chicago, IL and $1,083/mo in Oklahoma City, OK. Oklahoma City, OK has the lower rent by about 22%.
Which has higher salaries — Chicago or Oklahoma City?
Median household income is $75,134 in Chicago, IL and $66,702 in Oklahoma City, OK. 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 51.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or Oklahoma City?
Illinois's top income tax rate is 4.95% and Oklahoma's is 4.75%. Oklahoma City, OK has the lower rate.
What salary do I need in Oklahoma City to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $86,420 in Oklahoma City, OK (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