While Chicago’s love of superlatives helped earn its “windy” reputation, one title it lacks is “most expensive.” Based on calculations using the ACCRA Cost of Living Index, which measures regional cost differences, if you earned an annual after-tax income of $50,000 in Chicago, you would have to earn nearly twice as much to maintain your standard of living in New York City (Manhattan). In fact, as illustrated in the following chart, Chicagoans live, commute, buy groceries, and pay utility bills at a lower cost than many leading cities.
This translates into more disposable income in Chicago, a city that offers more than 35 museums, 200 theater companies, dozens of destination retailers, and some of the top-ranked restaurants and hotels in the world.
Source: ACCRA Cost of Living Index, 2009 Annual Average | Rent: monthly, 950 sq. ft. two bedroom apt., unfurnished, 1½ or 2 baths, excl. all utilities except water | New Home: 2,400 sq. ft., 8,000 sq. ft. lot, 4 bed/2 baths | Pizza: 11”-12” thin crust cheese pizza | Beer: Heineken, 6-pack, 12-oz. containers
