Chicago vs Austin: Cost of Living & Housing Comparison
Chicago's median home value is $304,500 — 34% lower than Austin's $461,500.
Median household income is $71,673 in Chicago versus $86,556 in Austin.
Typical rent runs $1,314 in Chicago and $1,549 in Austin.
| Metric | Chicago, IL | Austin, TX |
|---|---|---|
| Population | 2,721,914 | 958,202 |
| Median home value | $304,500 | $461,500 |
| Median household income | $71,673 | $86,556 |
| Median gross rent | $1,314 | $1,549 |
| Climate risk (FEMA) | Very High | Relatively High |
On housing costs, Chicago, IL looks more affordable than Austin, TX — lower median home value and rent. This reflects housing only, not total cost of living.
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Sources: U.S. Census Bureau American Community Survey; FEMA National Risk Index
Data last updated July 2026.