Median rent is 15% lower in Waukesha ($1,219/mo vs $1,440/mo). Buying is cheaper in Waukesha, where the median home runs $315,500 versus $334,100. Households earn more in Waukesha ($83,837 vs $77,902 a year). Taken together, Waukesha is the more affordable choice with a cost index of 95.7 against 102.5 — about 7% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Waukesha, WI.
Cost of living verdict
Waukesha is 7% cheaper overall
Cost of Living Index: 95.7 in Waukesha vs 102.5 in Chicago (US national average = 100)
City A
Chicago, IL
City B
Waukesha, WI
How much would you need to earn in Waukesha, WI to maintain your standard of living from Chicago, IL?
Equivalent salary in Waukesha, WI
$70,013
You could earn $4,987 less (7% 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
Waukesha
Wisconsin
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 Waukesha at $1,219/mo compared to $1,440/mo in Chicago (15% gap). Median home values are within 6% of each other: $334,100 in Chicago and $315,500 in Waukesha.
Metric
Chicago
Waukesha
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
Waukesha
Income tax: N/A
Sales tax: N/A
Air quality data is available for Chicago (avg AQI 31.0) but not yet for Waukesha.
Pick Waukesha if you prioritize lower overall cost of living (index 95.7 vs 102.5).
Pick Waukesha if you prioritize higher median household income ($83,837/yr).
Pick Waukesha if you prioritize cheaper rent ($1,219/mo median).
Waukesha is cheaper overall, with a cost of living index of 95.7 versus 102.5 (US average = 100). That means prices run about 7% lower in Waukesha.
Median rent is $1,440/mo in Chicago, IL and $1,219/mo in Waukesha, WI. Waukesha, WI has the lower rent by about 15%.
Median household income is $77,902 in Chicago, IL and $83,837 in Waukesha, WI. Waukesha, WI has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Air quality data is not yet available for one or both cities.
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 $93,351 in Waukesha, WI (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
