Baltimore vs Chicago: cost of living compared
Chicago is about the same as Baltimore overall. State income tax tops out around 4.75% in MD vs 4.95% in IL.
Indexes use a US average of 100: below 100 is cheaper than the national average. Housing and transportation are derived from median home prices, rents and commute times; figures come from BLS, Census ACS, Numbeo and the MIT Living Wage Calculator.
The big picture
When comparing the overall cost of living, Baltimore and Chicago are quite similar, both sitting above the national average. However, a deeper look reveals distinct differences in key spending categories. Housing costs, particularly for purchasing a home, are generally more favorable in Chicago, while everyday expenses like transportation and utilities can be slightly higher there. Baltimore tends to have higher housing costs for buyers but offers some relief in other areas.
Housing
For those looking to buy, Chicago generally presents a more affordable median home price compared to Baltimore. However, when it comes to renting a one-bedroom apartment, Baltimore typically offers a more budget-friendly option. Both cities feature a mix of housing types, from historic rowhouses in Baltimore to high-rise apartments and bungalows in Chicago. Property taxes and insurance costs can vary significantly within each metropolitan area.
Taxes and everyday costs
Daily expenses show some variation between the two cities. Chicago's state income tax rate is slightly higher than Baltimore's. Transportation costs are generally a bit more expensive in Chicago, though average commute times are comparable. Food and healthcare expenses are roughly similar in both metros. Utilities, however, tend to be more affordable in Chicago, potentially offsetting some of the other higher costs.
Lifestyle trade-offs
Beyond costs, a move between these cities means adjusting to different environments. Baltimore offers a Mid-Atlantic climate with four distinct seasons, while Chicago experiences more extreme temperature swings, including colder winters and warmer summers, typical of a continental climate. Chicago's public transit system is extensive, supporting a dense urban core, whereas Baltimore's transit is also robust but serves a somewhat less sprawling footprint. Both are major port cities with rich histories.
Bottom line
Deciding between Baltimore and Chicago from a cost perspective involves weighing different spending priorities. While the overall cost of living is quite similar, Chicago often provides a more accessible entry point for homeownership, but with slightly higher rents and transportation. Baltimore, conversely, might have higher home prices but offers more affordable rental options and some other daily expenses. Your personal budget will be impacted differently depending on whether you plan to buy or rent, and your daily commute.
| Measure | Baltimore, MD | Chicago, IL |
|---|---|---|
| Overall cost of living (US avg = 100) | 118 | 118 |
| Housing index | 100 | 97 |
| Transportation index | 118 | 121 |
| Food index | 105 | 105 |
| Healthcare index | 108 | 108 |
| Utilities index | 112 | 102 |
| Misc index | 105 | 108 |
| Median home price | $348,000 | $318,000 |
| Median 1-bedroom rent | $1,550/mo | $1,650/mo |
| Average commute | 33 min | 34 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Chicago home with the True Cost Calculator.