Chicago vs Dallas: Cost of Living & Housing Comparison
Chicago's median home value is $304,500 — 12% higher than Dallas's $270,700.
Typical households bring in $71,673 a year in Chicago, versus $63,985 in Dallas.
Chicago's median rent sits at $1,314, against $1,305 in Dallas.
FEMA rates both cities' overall hazard risk as "Very High."
| Metric | Chicago, IL | Dallas, TX |
|---|---|---|
| Population | 2,721,914 | 1,300,642 |
| Median home value | $304,500 | $270,700 |
| Median household income | $71,673 | $63,985 |
| Median gross rent | $1,314 | $1,305 |
| Climate risk (FEMA) | Very High | Very High |
Dallas, TX comes out ahead on housing affordability versus Chicago, IL, with both a lower median home value and lower rent. Housing only — not the full cost-of-living picture.
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Sources: U.S. Census Bureau American Community Survey; FEMA National Risk Index
Data last updated July 2026.