Median rent is 11% lower in Silver Springs Shores ($1,231/mo vs $1,380/mo). Buying is cheaper in Silver Springs Shores, where the median home runs $181,800 versus $315,200. Households earn more in Chicago ($75,134 vs $60,543 a year).
City A
Chicago, IL
City B
Silver Springs Shores, FL
How much would you need to earn in Silver Springs Shores, FL to maintain your standard of living from Chicago, IL?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
Silver Springs Shores
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 Silver Springs Shores at $1,231/mo compared to $1,380/mo in Chicago (11% gap). Home buyers face a steeper market in Chicago: the median home is $315,200 versus $181,800 in Silver Springs Shores — 42% more expensive.
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 Silver Springs Shores a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.00% in Florida; Silver Springs Shores has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Silver Springs Shores
Income tax: None
Sales tax: 6.00%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Silver Springs Shores.
Pick Chicago if you prioritize higher median household income ($75,134/yr).
Pick Silver Springs Shores if you prioritize cheaper rent ($1,231/mo median).
Pick Silver Springs Shores if you prioritize no state income tax.
Is Chicago cheaper than Silver Springs Shores?
Cost of living index data is not yet available for one or both cities.
How much is rent in Chicago vs Silver Springs Shores?
Median rent is $1,380/mo in Chicago, IL and $1,231/mo in Silver Springs Shores, FL. Silver Springs Shores, FL has the lower rent by about 11%.
Which has higher salaries — Chicago or Silver Springs Shores?
Median household income is $75,134 in Chicago, IL and $60,543 in Silver Springs Shores, 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 Silver Springs Shores?
Florida has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in Silver Springs Shores to match my Chicago income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology