Median rent is 3% lower in Salt Lake City ($1,343/mo vs $1,380/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $495,700. Households earn more in Chicago ($75,134 vs $74,925 a year). Taken together, Salt Lake City is the more affordable choice with a cost index of 95.8 against 105.7 — about 9% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Salt Lake City, UT.
Quick verdict
Salt Lake City is 9% cheaper overall
Cost index: 95.8 in Salt Lake City vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
Salt Lake City, UT
How much would you need to earn in Salt Lake City, UT to maintain your standard of living from Chicago, IL?
Equivalent salary in Salt Lake City, UT
$68,006
You could earn $6,994 less (9% 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
Salt Lake City
Utah
👥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 $1,343/mo in Salt Lake City. Home buyers face a steeper market in Salt Lake City: the median home is $495,700 versus $315,200 in Chicago — 36% 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 4.65% in Utah, so Salt Lake City is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 4.85% in Utah; Salt Lake City has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Salt Lake City
Income tax: 4.65%
Sales tax: 4.85%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 31.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Salt Lake City if you prioritize lower overall cost of living (index 95.8 vs 105.7).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Pick Salt Lake City if you prioritize lower state income tax (4.65%).
Is Chicago cheaper than Salt Lake City?
Salt Lake City is cheaper overall, with a cost of living index of 95.8 versus 105.7 (US average = 100). That means prices run about 9% lower in Salt Lake City.
How much is rent in Chicago vs Salt Lake City?
Median rent is $1,380/mo in Chicago, IL and $1,343/mo in Salt Lake City, UT. Salt Lake City, UT has the lower rent by about 3%.
Which has higher salaries — Chicago or Salt Lake City?
Median household income is $75,134 in Chicago, IL and $74,925 in Salt Lake City, UT. 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 31.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or Salt Lake City?
Illinois's top income tax rate is 4.95% and Utah's is 4.65%. Salt Lake City, UT has the lower rate.
What salary do I need in Salt Lake City to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $90,674 in Salt Lake City, UT (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