Is it cheaper to live in Chicago or Tampa?

Chicago, IL is cheaper. Its monthly baseline of $1,440 (1BR rent + utilities) runs about 4% below Tampa, FL's $1,500, mainly because of rent.

How much more do you need to earn to live in Chicago than in Tampa?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $50,000 a year in Chicago versus $53,000 in Tampa.

Which has lower taxes, Chicago or Tampa?

Chicago is taxed under Illinois's rules (a top state income tax rate of 4.95% and a 6.25% state sales tax); Tampa under Florida's (no state income tax and a 6% state sales tax).

Chicago vs Tampa Cost of Living 2026

Chicago

Illinois

$1,440/mo est.

Tampa

Florida

$1,500/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,440 in Chicago, IL versus $1,500 in Tampa, FL. Overall, Chicago, IL is roughly 4% cheaper to live in day-to-day than Tampa, FL, driven mainly by rent.

Median household income is $75,134 in Chicago, IL and $71,302 in Tampa, FL — about 5% higher in Chicago, IL. Illinois has a top state income tax rate of 4.95% and a 6.25% state sales tax; Florida has no state income tax and a 6% state sales tax.

Chicago, IL

Tampa, FL

Rent

Studio

$1,186

$1,242

+5% in Tampa, FL

1 Bedroom

$1,258

$1,324

+5% in Tampa, FL

2 Bedroom

$1,406

$1,673

+19% in Tampa, FL

3 Bedroom

$1,554

$1,729

+11% in Tampa, FL

Buying a Home

Median Home Value

$315,200

$375,300

+19% in Tampa, FL

Income

Median Household Income

$75,134

$71,302

+5% in Chicago, IL

Metro Median Wage (annual)

$54,720

$48,940

+11% in Chicago, IL

People & Lifestyle

Median Age

35.7 yr

35.6 yr

+0.1 yr in Chicago, IL

Homeownership

45.5%

50.2%

+4.7 pp in Tampa, FL

Bachelor's+ (25+)

43.3%

44.6%

+1.3 pp in Tampa, FL

Avg Commute

33.5 min

24.7 min

+8.8 min in Chicago, IL

Crime (per 100k/yr)

Violent Crime

539.8

443.4

+18% in Chicago, IL

Property Crime

3,489.9

1,473.2

+58% in Chicago, IL

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

52.7°F

73.4°F

+20.7°F in Tampa, FL

Annual Precipitation

38.0 in

46.3 in

+8.3 in in Tampa, FL

Gas

Regular Gasoline

$4.82/gal

$4.25/gal

+12% in Chicago, IL

Area: Chicago vs Florida.

Public Transit

Base Fare (one-way)

$2.50

$2.00

+20% in Chicago, IL

Adult base one-way fare — CTA vs HART (2026).

Utilities

Electricity (¢/kWh)

18.9

14.9

+21% in Chicago, IL

Natural Gas ($/MCF)

$12.10

$23.62

+95% in Tampa, FL

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.14

$4.16

+1% in Tampa, FL

Bread (lb)

$1.79

$1.73

+3% in Chicago, IL

Eggs (doz)

$3.63

$2.19

+40% in Chicago, IL

Ground Beef (lb)

$6.97

$6.56

+6% in Chicago, IL

Chicken (lb)

$2.15

$1.90

+12% in Chicago, IL

Bananas (lb)

$0.63

$0.61

+3% in Chicago, IL

Average prices — Midwest vs South (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (IL / FL)

6.25%

+0.3 pp in IL

Income Tax (top rate)

4.95%

None

+5.0 pp in IL

Chicago vs Tampa — FAQ

Is it cheaper to live in Chicago or Tampa?: Chicago, IL is cheaper. Its monthly baseline of $1,440 (1BR rent + utilities) runs about 4% below Tampa, FL's $1,500, mainly because of rent.
How much more do you need to earn to live in Chicago than in Tampa?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $50,000 a year in Chicago versus $53,000 in Tampa.
Which has lower taxes, Chicago or Tampa?: Chicago is taxed under Illinois's rules (a top state income tax rate of 4.95% and a 6.25% state sales tax); Tampa under Florida's (no state income tax and a 6% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).