Median rent is 16% lower in Chicago ($1,440/mo vs $1,714/mo). Buying is cheaper in Chicago, where the median home runs $334,100 versus $382,500. Households earn more in Virginia Beach ($92,968 vs $77,902 a year). Taken together, Virginia Beach is the more affordable choice with a cost index of 97.7 against 102.5 — about 5% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Virginia Beach, VA.
Cost of living verdict
Virginia Beach is 5% cheaper overall
Cost of Living Index: 97.7 in Virginia Beach vs 102.5 in Chicago (US national average = 100)
City A
Chicago, IL
City B
Virginia Beach, VA
How much would you need to earn in Virginia Beach, VA to maintain your standard of living from Chicago, IL?
Equivalent salary in Virginia Beach, VA
$71,514
You could earn $3,486 less (5% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each metro area. This estimates overall purchasing power; it does not account for taxes or take-home pay differences.
Metric
Chicago
Illinois
Virginia Beach
Virginia
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: Census ACS, BEA, HUD Fair Market Rents, EPA AirNow, Tax Foundation
Median rent is modestly lower in Chicago at $1,440/mo compared to $1,714/mo in Virginia Beach (16% gap). Median home values are within 13% of each other: $334,100 in Chicago and $382,500 in Virginia Beach.
Metric
Chicago
Virginia Beach
Software Developer
Registered Nurse
Elementary Teacher
Electrician
Accountant
Higher wage highlighted · BLS OEWS 2023 (metro-level data)
State tax data is not yet available for these cities.
Chicago
Income tax: N/A
Sales tax: N/A
Virginia Beach
Income tax: N/A
Sales tax: N/A
Chicago has cleaner air on average: 31.0 AQI (Good) compared to 45.0 AQI (Good) in the other city. Lower AQI means cleaner, healthier air.
Pick Virginia Beach if you prioritize lower overall cost of living (index 97.7 vs 102.5).
Pick Virginia Beach if you prioritize higher median household income ($92,968/yr).
Pick Chicago if you prioritize cheaper rent ($1,440/mo median).
Pick Chicago if you prioritize cleaner air quality (avg AQI 31.0).
Virginia Beach is cheaper overall, with a cost of living index of 97.7 versus 102.5 (US average = 100). That means prices run about 5% lower in Virginia Beach.
Median rent is $1,440/mo in Chicago, IL and $1,714/mo in Virginia Beach, VA. Chicago, IL has the lower rent by about 16%.
Median household income is $77,902 in Chicago, IL and $92,968 in Virginia Beach, VA. Virginia Beach, VA has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Chicago, IL has better air quality on average: 31.0 AQI versus 45.0 AQI. Both are EPA AirNow annual averages; lower is better.
State tax data is not yet available for one or both cities.
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $95,352 in Virginia Beach, VA (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
