Median rent is 14% lower in Chicago ($1,380/mo vs $1,596/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $557,600. Households earn more in Portland ($88,792 vs $75,134 a year). Taken together, Portland is the more affordable choice with a cost index of 103.6 against 105.7 — about 2% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Portland, OR.
Quick verdict
Portland is 2% cheaper overall
Cost index: 103.6 in Portland vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Portland, OR
How much would you need to earn in Portland, OR to maintain your standard of living from Chicago, IL?
Equivalent salary in Portland, OR
$73,531
You could earn $1,469 less (2% 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
Portland
Oregon
👥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 $1,596/mo in Portland (14% gap). Home buyers face a steeper market in Portland: the median home is $557,600 versus $315,200 in Chicago — 43% 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 9.90% in Oregon, so Chicago is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 0.00% in Oregon; Portland has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Portland
Income tax: 9.90%
Sales tax: None
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 26.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Portland if you prioritize higher median household income ($88,792/yr).
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Chicago if you prioritize lower state income tax (4.95%).
Is Chicago cheaper than Portland?
Portland is cheaper overall, with a cost of living index of 103.6 versus 105.7 (US average = 100). That means prices run about 2% lower in Portland.
How much is rent in Chicago vs Portland?
Median rent is $1,380/mo in Chicago, IL and $1,596/mo in Portland, OR. Chicago, IL has the lower rent by about 14%.
Which has higher salaries — Chicago or Portland?
Median household income is $75,134 in Chicago, IL and $88,792 in Portland, OR. Portland, OR 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 26.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or Portland?
Illinois's top income tax rate is 4.95% and Oregon's is 9.90%. Chicago, IL has the lower rate.
What salary do I need in Portland to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $98,042 in Portland, OR (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