Median rent is 4% lower in Philadelphia ($1,323/mo vs $1,380/mo). Buying is cheaper in Philadelphia, where the median home runs $232,400 versus $315,200. Households earn more in Chicago ($75,134 vs $60,698 a year). Taken together, Philadelphia is the more affordable choice with a cost index of 100.7 against 105.7 — about 5% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Chicago, IL.
Quick verdict
Philadelphia is 5% cheaper overall
Cost index: 100.7 in Philadelphia vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Philadelphia, PA
How much would you need to earn in Philadelphia, PA to maintain your standard of living from Chicago, IL?
Equivalent salary in Philadelphia, PA
$71,477
You could earn $3,523 less (5% 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
Philadelphia
Pennsylvania
👥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 rents are similar in both cities: $1,380/mo in Chicago and $1,323/mo in Philadelphia. Home buyers face a steeper market in Chicago: the median home is $315,200 versus $232,400 in Philadelphia — 26% 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 3.07% in Pennsylvania, so Philadelphia is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 6.00% in Pennsylvania; Philadelphia has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Philadelphia
Income tax: 3.07%
Sales tax: 6.00%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 58.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick Philadelphia if you prioritize lower overall cost of living (index 100.7 vs 105.7).
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Pick Philadelphia if you prioritize lower state income tax (3.07%).
Is Chicago cheaper than Philadelphia?
Philadelphia is cheaper overall, with a cost of living index of 100.7 versus 105.7 (US average = 100). That means prices run about 5% lower in Philadelphia.
How much is rent in Chicago vs Philadelphia?
Median rent is $1,380/mo in Chicago, IL and $1,323/mo in Philadelphia, PA. Philadelphia, PA has the lower rent by about 4%.
Which has higher salaries — Chicago or Philadelphia?
Median household income is $75,134 in Chicago, IL and $60,698 in Philadelphia, PA. 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 58.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or Philadelphia?
Illinois's top income tax rate is 4.95% and Pennsylvania's is 3.07%. Philadelphia, PA has the lower rate.
What salary do I need in Philadelphia to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $95,302 in Philadelphia, PA (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