Median rent is 14% lower in Chicago ($1,380/mo vs $1,597/mo). Buying is cheaper in Palm Springs, where the median home runs $234,500 versus $315,200. Households earn more in Chicago ($75,134 vs $59,602 a year).
City A
Chicago, IL
City B
Palm Springs, FL
How much would you need to earn in Palm Springs, FL to maintain your standard of living from Chicago, IL?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Palm Springs
Florida
👥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 Chicago at $1,380/mo compared to $1,597/mo in Palm Springs (14% gap). Home buyers face a steeper market in Chicago: the median home is $315,200 versus $234,500 in Palm Springs — 26% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Florida has no state income tax, while Illinois tops out at 4.95% — giving Palm Springs a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.00% in Florida; Palm Springs has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Palm Springs
Income tax: None
Sales tax: 6.00%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Palm Springs.
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Palm Springs if you prioritize no state income tax.
Is Chicago cheaper than Palm Springs?
Cost of living index data is not yet available for one or both cities.
How much is rent in Chicago vs Palm Springs?
Median rent is $1,380/mo in Chicago, IL and $1,597/mo in Palm Springs, FL. Chicago, IL has the lower rent by about 14%.
Which has higher salaries — Chicago or Palm Springs?
Median household income is $75,134 in Chicago, IL and $59,602 in Palm Springs, FL. 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?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Chicago or Palm Springs?
Florida has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Palm Springs to match my Chicago income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology