Chicago vs Riverside: cost of living compared

Riverside is about the same as Chicago overall. State income tax tops out around 4.95% in IL vs 9.3% in CA.

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

While the overall cost of living between Chicago and Riverside appears roughly similar, a closer look reveals significant differences in key spending categories. Housing in Riverside is noticeably more expensive, driving up the cost of living there despite other categories being comparable. Conversely, Chicago's housing costs are more aligned with the national average, though other expenses can accumulate. The primary driver of any cost disparity between these two metros will likely be housing.

Housing

Housing costs present a substantial difference, with both home prices and rental rates being considerably higher in Riverside. A median home in Riverside commands a much larger price tag than in Chicago, and one-bedroom apartments also rent for more. Chicago offers a mix of housing types, from high-rise urban living to more traditional homes, while Riverside typically features more spread-out, suburban-style residences. Property taxes and insurance costs can also vary significantly between these two distinct markets.

Taxes and everyday costs

Daily expenses for food, transportation, and healthcare are roughly similar between Chicago and Riverside, suggesting that routine spending on these necessities won't see a dramatic shift. However, utilities are noticeably more expensive in Riverside, impacting monthly budgets. A significant difference emerges with state income taxes; California has a considerably higher top marginal income tax rate compared to Illinois, which could impact disposable income for many residents.

Lifestyle trade-offs

Beyond costs, a move between these metros means a substantial lifestyle change. Chicago offers a distinct four-season climate with cold winters and hot summers, alongside extensive public transportation options and a dense urban core. Riverside, in Southern California, enjoys a Mediterranean climate with mild, wet winters and hot, dry summers, and is more car-dependent with a sprawling suburban character. Both metros have similar average commute times, but the mode of transport often differs.

Bottom line

For households considering a move, the most impactful financial factor will be housing. While overall cost of living indices are comparable, Riverside's significantly higher housing costs, both for buying and renting, will likely mean a larger portion of income dedicated to shelter. This is further compounded by higher utility costs and a greater state income tax burden in California, making Chicago potentially more budget-friendly for many despite similar costs in other everyday categories.

Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Riverside home with the True Cost Calculator.

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