Median rent is 42% lower in Chicago ($1,440/mo vs $2,502/mo). Buying is cheaper in Chicago, where the median home runs $334,100 versus $784,600. Households earn more in Watertown ($126,265 vs $77,902 a year).
City A
Chicago, IL
City B
Watertown, MA
How much would you need to earn in Watertown, MA 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
Watertown
Massachusetts
👥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
Renters will find significantly cheaper housing in Chicago — median rent of $1,440/mo versus $2,502/mo in Watertown, a 42% difference. Home buyers face a steeper market in Watertown: the median home is $784,600 versus $334,100 in Chicago — 57% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
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
Watertown
Income tax: N/A
Sales tax: N/A
Air quality data is available for Chicago (avg AQI 31.0) but not yet for Watertown.
Pick Watertown if you prioritize higher median household income ($126,265/yr).
Pick Chicago if you prioritize cheaper rent ($1,440/mo median).
Is Chicago cheaper than Watertown?
Cost of living index data is not yet available for one or both cities.
How much is rent in Chicago vs Watertown?
Median rent is $1,440/mo in Chicago, IL and $2,502/mo in Watertown, MA. Chicago, IL has the lower rent by about 42%.
Which has higher salaries — Chicago or Watertown?
Median household income is $77,902 in Chicago, IL and $126,265 in Watertown, MA. Watertown, MA 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 Watertown?
State tax data is not yet available for one or both cities.
What salary do I need in Watertown to match my Chicago income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
