Median rent is 12% lower in Pensacola ($1,209/mo vs $1,380/mo). Buying is cheaper in Pensacola, where the median home runs $276,500 versus $315,200. Households earn more in Chicago ($75,134 vs $72,699 a year). Taken together, Pensacola is the more affordable choice with a cost index of 97.3 against 105.7 — about 8% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Pensacola, FL.
Quick verdict
Pensacola is 8% cheaper overall
Cost index: 97.3 in Pensacola vs 105.7 in Chicago (US 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
$69,017
You could earn $5,983 less (8% 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
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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Pensacola at $1,209/mo compared to $1,380/mo in Chicago (12% gap). Median home values are within 12% of each other: $315,200 in Chicago and $276,500 in Pensacola.
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 Pensacola a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.00% in Florida; Pensacola has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Pensacola
Income tax: None
Sales tax: 6.00%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Pensacola.
Pick Pensacola if you prioritize lower overall cost of living (index 97.3 vs 105.7).
Pick Pensacola if you prioritize cheaper rent ($1,209/mo median).
Pick Pensacola if you prioritize no state income tax.
Is Chicago cheaper than Pensacola?
Pensacola is cheaper overall, with a cost of living index of 97.3 versus 105.7 (US average = 100). That means prices run about 8% lower in Pensacola.
How much is rent in Chicago vs Pensacola?
Median rent is $1,380/mo in Chicago, IL and $1,209/mo in Pensacola, FL. Pensacola, FL has the lower rent by about 12%.
Which has higher salaries — Chicago or Pensacola?
Median household income is $75,134 in Chicago, IL and $72,699 in Pensacola, 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 Pensacola?
Florida has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Pensacola to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $92,023 in Pensacola, FL (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