The numbers, side by side
| Metric | Chicago | Austin | Difference |
|---|---|---|---|
| Cost-of-living index | 112 | 121 | +9 |
| 1-bed rent (avg) | $1,700 | $1,700 | $0 |
| 2-bed rent (avg) | $2,200 | $2,200 | $0 |
| Median household income | $58,984 | $71,349 | +$12,365 |
| Population | 2,693,976 | 978,908 | -1,715,068 |
What salary you'd need in Austin
To maintain your Chicago purchasing power, here's what you'd need to earn in Austin.
Chicago vs Austin: which makes more sense for you?
On paper, Austin's cost-of-living index of 121 runs roughly 8.0% higher than Chicago's 112. But that headline number papers over real differences in how that cost is distributed — rent might be far more expensive while groceries and transit costs run closer to even.
The rent gap
A 1-bedroom apartment in Chicago averages $1,700/month, vs $1,700/month in Austin — a +$0 difference. For 2-bedrooms, the gap widens to +$0/month. Over a year, the rent difference alone is $0 on a 1-bed.
Income context
Median household income in Chicago is $58,984, while Austin runs $71,349 (+$12,365 difference). That matters for how the cost-of-living gap actually feels day-to-day — if local salaries are also higher, the cost difference washes out partly. If local salaries lag the cost-of-living gap, your paycheck buys noticeably less.
State tax differences
Chicago is in Illinois and Austin is in Texas, so you'll also pick up a state-tax difference. Tax-free states like Texas, Florida, Tennessee, Washington, and Nevada deliver real take-home upside even when nominal salaries are similar.