Chicago vs Sarasota: cost of living compared
Sarasota is 5% cheaper than Chicago overall. Sarasota (FL) has no state income tax; IL tops out around 4.95%.
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
Overall, living in Chicago tends to be somewhat more expensive than in Sarasota. While housing costs are a significant factor in Sarasota, many other everyday expenses, including transportation, food, and miscellaneous goods and services, contribute to Chicago's higher overall cost. The difference in overall cost is noticeable, with Chicago generally requiring a larger budget for daily life and services, despite Sarasota's higher housing prices.
Housing
Both buying and renting are generally more expensive in Sarasota than in Chicago. Median home prices show a substantial difference, and typical one-bedroom rents are also higher in the Florida city. Beyond the mortgage, homeowners in Sarasota often face higher insurance premiums, including potential flood insurance, and may encounter additional costs like HOA or CDD fees. Property taxes can also reset to market value after a sale.
Taxes and everyday costs
A key financial difference is Florida's lack of a state income tax, which can significantly impact take-home pay compared to Illinois. For other daily expenses, transportation costs are noticeably higher in Chicago, while food expenses are somewhat higher. Healthcare costs are also higher in Chicago, though utilities are slightly more expensive in Sarasota. These differences mean daily spending patterns vary considerably between the two metros.
Lifestyle trade-offs
Movers will experience distinct climates: Chicago has four distinct seasons with cold winters, while Sarasota offers a warm, subtropical environment year-round, including a hurricane season. Getting around in Chicago often involves extensive public transit, whereas Sarasota typically relies more on personal vehicles. The pace of life and urban density are generally greater in Chicago, offering a bustling city experience compared to Sarasota's more relaxed, coastal atmosphere.
Bottom line
Moving between these metros means a household budget shift. While Sarasota presents a higher housing burden for both renters and buyers, other daily expenses like transportation, food, and healthcare are generally more affordable there. The absence of state income tax in Florida can also provide a financial advantage. Ultimately, the overall cost difference is noticeable, with Chicago typically demanding a larger budget for most aspects of daily living.
| Measure | Chicago, IL | Sarasota, FL |
|---|---|---|
| Overall cost of living (US avg = 100) | 118 | 112 |
| Housing index | 97 | 131 |
| Transportation index | 121 | 96 |
| Food index | 105 | 100 |
| Healthcare index | 108 | 100 |
| Utilities index | 102 | 108 |
| Misc index | 108 | 98 |
| Median home price | $318,000 | $478,000 |
| Median 1-bedroom rent | $1,650/mo | $1,850/mo |
| Average commute | 34 min | 26 min |
Compare any two metros with the free cost of living tool, or see the true monthly cost of a specific Sarasota home with the True Cost Calculator.