Is Chicago Better Than New York? Exploring the Chicago vs New York Cost of Living

June 12, 2023 | By Luxury Living Chicago Team
Reading Time: 2 Minutes
chicago vs new york cost of living

When it comes to vibrant cities in the United States, Chicago and New York City often top the list. Both cities boast iconic skylines, diverse cultures, and countless opportunities. However, one crucial factor that plays a significant role in deciding where to live is the cost of living.

In this post we will delve into the Chicago vs. New York cost of living and compare various living expenses to help you make the best decision for your wallet.

Chicago vs. New York Living Expenses

When comparing living expenses, it’s essential to consider key factors such as housing, transportation, groceries, and entertainment. Chicago undoubtedly offers a more affordable cost of living compared to New York City.

According to Nerd Wallet, the cost of living is 101% higher in the big apple compared to the Windy City. Nerd Wallet also provides a breakdown of varying expenses in both cities, including gas, doctor visits, and movie tickets.

Chicago vs. New York Rent

Rent prices can significantly impact your budget. While New York City is notorious for its sky-high rental prices, Chicago offers more affordable options.

On average, the cost of renting a one-bedroom apartment in Chicago is approximately $2,835 per month, while the same in New York City can range from $3,000 to $4,200 per month, depending on the neighborhood.

Chicago vs. New York Cost of Beer

Indulging in a night out with friends often involves grabbing a cold brew. In this aspect, Chicago tends to be more budget-friendly.

A pint of beer in a regular pub typically costs around $6 in Chicago, whereas in New York City, the price can range from $7 to $9, depending on the establishment and neighborhood. If you’re getting beer-to-go, an 8 pack of Heineken would run around $8.42 in Chicago compared to $12.52 in Manhattan.

How Does the Chicago Cost of Living Rank Against Other Top Cities?

When comparing the cost of living, it’s insightful to consider how Chicago fares against other top cities. According to recent rankings, Chicago ranks as the 19th most expensive city in the United States. While it may not be the most affordable, it still provides a reasonable cost of living when compared to other major cities.

The Chicago vs New York City debate ultimately depends on your priorities, lifestyle, and financial situation. However, if you are looking to make the most of your money, Chi-town is a strategic move. If you are considering moving to the Windy City, let one of our experienced brokers acquaint you with the vibrant city and help you secure your dream home.

For more information on what to know before moving to Chicago from New York City, follow the link below!


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