Median rent is 14% lower in Waukesha ($1,183/mo vs $1,380/mo). Buying is cheaper in Waukesha, where the median home runs $286,600 versus $315,200. Households earn more in Waukesha ($81,651 vs $75,134 a year). Taken together, Waukesha is the more affordable choice with a cost index of 95.1 against 105.7 — about 10% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Waukesha, WI.
Quick verdict
Waukesha is 10% cheaper overall
Cost index: 95.1 in Waukesha vs 105.7 in Chicago (US 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
$67,490
You could earn $7,510 less (10% 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
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: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Waukesha at $1,183/mo compared to $1,380/mo in Chicago (14% gap). Median home values are within 9% of each other: $315,200 in Chicago and $286,600 in Waukesha.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Illinois's top income tax rate is 4.95% versus 7.65% in Wisconsin, so Chicago is more tax-friendly for high earners. Sales tax is 6.25% in Illinois and 5.00% in Wisconsin; Waukesha has the lower rate (local add-ons may apply in both).
Chicago
Income tax: 4.95%
Sales tax: 6.25%
Waukesha
Income tax: 7.65%
Sales tax: 5.00%
Air quality data is available for Chicago (avg AQI 21.0) but not yet for Waukesha.
Pick Waukesha if you prioritize lower overall cost of living (index 95.1 vs 105.7).
Pick Waukesha if you prioritize higher median household income ($81,651/yr).
Pick Waukesha if you prioritize cheaper rent ($1,183/mo median).
Pick Chicago if you prioritize lower state income tax (4.95%).
Is Chicago cheaper than Waukesha?
Waukesha is cheaper overall, with a cost of living index of 95.1 versus 105.7 (US average = 100). That means prices run about 10% lower in Waukesha.
How much is rent in Chicago vs Waukesha?
Median rent is $1,380/mo in Chicago, IL and $1,183/mo in Waukesha, WI. Waukesha, WI has the lower rent by about 14%.
Which has higher salaries — Chicago or Waukesha?
Median household income is $75,134 in Chicago, IL and $81,651 in Waukesha, WI. Waukesha, WI 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 Waukesha?
Illinois's top income tax rate is 4.95% and Wisconsin's is 7.65%. Chicago, IL has the lower rate.
What salary do I need in Waukesha to match my Chicago income?
To maintain the same purchasing power, a salary of $100,000 in Chicago, IL is equivalent to roughly $89,987 in Waukesha, WI (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