Median rent is 11% lower in Chicago ($1,380/mo vs $1,542/mo). Buying is cheaper in Chicago, where the median home runs $315,200 versus $331,500. Households earn more in Chicago ($75,134 vs $73,118 a year). Taken together, St. Petersburg is the more affordable choice with a cost index of 99.9 against 105.7 — about 6% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in St. Petersburg, FL.
Quick verdict
St. Petersburg is 6% cheaper overall
Cost index: 99.9 in St. Petersburg vs 105.7 in Chicago (US average = 100)
City A
Chicago, IL
City B
St. Petersburg, FL
How much would you need to earn in St. Petersburg, FL to maintain your standard of living from Chicago, IL?
Equivalent salary in St. Petersburg, FL
$70,849
You could earn $4,151 less (6% 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
St. Petersburg
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 Chicago at $1,380/mo compared to $1,542/mo in St. Petersburg (11% gap). Median home values are within 5% of each other: $315,200 in Chicago and $331,500 in St. Petersburg.
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 St. Petersburg a clear advantage for high earners. Sales tax is 6.25% in Illinois and 6.00% in Florida; St. Petersburg has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
St. Petersburg
Income tax: None
Sales tax: 6.00%
Chicago has cleaner air on average: 21.0 AQI (Good) compared to 53.0 AQI (Moderate) in the other city. Lower AQI means cleaner, healthier air.
Pick St. Petersburg if you prioritize lower overall cost of living (index 99.9 vs 105.7).
Pick Chicago if you prioritize cheaper rent ($1,380/mo median).
Pick Chicago if you prioritize cleaner air quality (avg AQI 21.0).
Pick St. Petersburg if you prioritize no state income tax.
Is Chicago cheaper than St. Petersburg?
St. Petersburg is cheaper overall, with a cost of living index of 99.9 versus 105.7 (US average = 100). That means prices run about 6% lower in St. Petersburg.
How much is rent in Chicago vs St. Petersburg?
Median rent is $1,380/mo in Chicago, IL and $1,542/mo in St. Petersburg, FL. Chicago, IL has the lower rent by about 11%.
Which has higher salaries — Chicago or St. Petersburg?
Median household income is $75,134 in Chicago, IL and $73,118 in St. Petersburg, 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?
Chicago, IL has better air quality on average: 21.0 AQI versus 53.0 AQI. Both are EPA AirNow annual averages; lower is better.
Which has lower taxes — Chicago or St. Petersburg?
Florida has no state income tax. Illinois has a top rate of 4.95%.
What salary do I need in St. Petersburg to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $94,466 in St. Petersburg, 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