Indianapolis vs Chicago: Cost of Living & Housing Comparison
Indianapolis city (balance)'s median home value is $184,600 — 39% lower than Chicago's $304,500.
Median household income is $59,110 in Indianapolis city (balance) versus $71,673 in Chicago.
Typical rent runs $1,046 in Indianapolis city (balance) and $1,314 in Chicago.
| Metric | Indianapolis city (balance), IN | Chicago, IL |
|---|---|---|
| Population | 882,006 | 2,721,914 |
| Median home value | $184,600 | $304,500 |
| Median household income | $59,110 | $71,673 |
| Median gross rent | $1,046 | $1,314 |
| Climate risk (FEMA) | Relatively High | Very High |
On housing costs, Indianapolis city (balance), IN looks more affordable than Chicago, IL — 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.