Is Chicago more affordable than New York?

Is Chicago more affordable than New York?

The cost of living in Chicago, IL is -36.3% lower than in New York, NY. You would have to earn a salary of $38,235 to maintain your current standard of living. Employers in Chicago, IL typically pay -11.8% less than employers in New York, NY.

Why is Chicago better than NYC?

When you compare Chicago vs New York City, you’ll find a big plus of living in Chicago is it lets you enjoy a better work/life balance. In Chicago, you’ll have a shorter commute, less traffic, and less dependency on public transportation with a great system of roads and highways.

Is Chicago an affordable city?

Compared to the national average, the Chicago cost of living is higher. In fact, the city is ranked as the 11th most expensive city in the nation, putting Chicago on par with cities like Seattle, Boston, and San Diego.

Is Chicago affordable for living?

As of June 2019, Chicago ranks 11th in terms of average rental prices in large American cities. This means Chicagoans pay relatively low rents for a major city (especially compared to San Francisco, where the average rent is a staggering $3,700).

What is a livable salary in Chicago?

The recommended household income for a one-bedroom in Chicago is about $51,360 a year, or $22.22 an hour. However, the “living wage” is defined as the minimum amount of money needed to live above the poverty threshold. For Chicago, the living wage is around $16.08 an hour for a full-time employed single individual.

Is living in Chicago worth it?

Plus, affordable living costs and comprehensive, reliable public transit give Chicago a leg up on most other major cities. We are the birthplace of the skyscraper and have influenced architecture on a global scale. But we also have plenty of nature: The lakefront trail is 18.5 miles long, and we have 600 parks.