Median rent is 8% lower in Pensacola ($1,322/mo vs $1,440/mo). Buying is cheaper in Pensacola, where the median home runs $314,400 versus $334,100. Households earn more in Chicago ($77,902 vs $74,212 a year). Taken together, Pensacola is the more affordable choice with a cost index of 97.8 against 102.5 — about 5% lower overall prices.
Cost of living verdict
Pensacola is 5% cheaper overall
Cost of Living Index: 97.8 in Pensacola vs 102.5 in Chicago (US national average = 100)
City A
Chicago, IL
City B
Pensacola, FL
How much would you need to earn in Pensacola, FL to maintain your standard of living from Chicago, IL?
Equivalent salary in Pensacola, FL
$71,602
You could earn $3,398 less (5% 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
Pensacola
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in Pensacola at $1,322/mo compared to $1,440/mo in Chicago (8% gap). Median home values are within 6% of each other: $334,100 in Chicago and $314,400 in Pensacola.
Metric
Chicago
Pensacola
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
Pensacola
Income tax: N/A
Sales tax: N/A
Air quality data is available for Chicago (avg AQI 31.0) but not yet for Pensacola.
Pick Pensacola if you prioritize lower overall cost of living (index 97.8 vs 102.5).
Pensacola is cheaper overall, with a cost of living index of 97.8 versus 102.5 (US average = 100). That means prices run about 5% lower in Pensacola.
Median rent is $1,440/mo in Chicago, IL and $1,322/mo in Pensacola, FL. Pensacola, FL has the lower rent by about 8%.
Median household income is $77,902 in Chicago, IL and $74,212 in Pensacola, FL. Chicago, IL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
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 $95,470 in Pensacola, FL (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
