Chicago vs Toronto
Cost of Living Comparison · 2026 Data
Chicago
Toronto
💡 The Verdict
Chicago is 6% cheaper than Toronto overall. A $75,000 salary in Chicago is equivalent to $79,907 in Toronto.
Category-by-Category Breakdown
Index values for Chicago (left) vs Toronto (right). National average = 100.
Detailed Price Comparison
Estimated item-level prices in Chicago versus Toronto. Differences shown from Chicago perspective.
| Item | Chicago | Toronto | Difference |
|---|---|---|---|
| 1-Bed Rent | $1,230/mo | $1,170/mo | +$60.00 |
| 2-Bed Rent | $1,700/mo | $1,590/mo | +$110.00 |
| 3-Bed Rent | $2,220/mo | $2,060/mo | +$160.00 |
| Bread (loaf) | $2.71 | $3.12 | $-0.41 |
| Milk (gallon) | $4.17 | $4.21 | $-0.04 |
| Eggs (dozen) | $3.55 | $3.24 | +$0.31 |
| Coffee (latte) | $6.11 | $6.02 | +$0.09 |
| Gas (gallon) | $3.57 | $3.41 | +$0.16 |
| Restaurant Meal | $15.53 | $18.25 | $-2.72 |
💰 Salary Equivalence
A $75,000 salary in Chicago has the same purchasing power as $79,907 in Toronto.
Conversely, $75,000 in Toronto equals $70,395 in Chicago.
Reading These Numbers: Chicago (107) vs Toronto (114)
Chicago at 107 is 7% above the US average, while Toronto at 114 is 14% above average. The cost difference between these cities is relatively modest.
In Chicago, the composite index of 107 reflects a weighted calculation where housing carries the most influence at 112, followed by groceries (104), utilities (100), transportation (116), and healthcare (101). Costs are fairly balanced across categories.
For renters: With median rents of $1,700/mo in Chicago and $1,590/mo in Toronto, the annual rent difference is approximately $1,320.0. Over a 5-year period, that compounds to $6,600.0 in savings by choosing the more affordable city.
For homebuyers: The $47,000.0 difference in median home prices between Chicago and Toronto translates to meaningful differences in mortgage payments at current rates. Factor this into your budget alongside property taxes and insurance, which also vary by location.
🔗 Related Tools
📚 Moving & Relocation Resources
Amazon affiliate links
CITY PROFILES
Making Your Decision: Chicago vs Toronto
Choosing between Chicago and Toronto involves more than just comparing index numbers. Consider how each category aligns with your personal spending patterns. If you work from home, transportation costs matter less than housing and utilities. If you eat out frequently, the groceries index may understate your actual food spending — look at the restaurant meal prices in the detailed comparison table above instead.
Beyond the numbers shown above, quality of life differences between Chicago and Toronto can meaningfully affect your financial picture in ways the index does not capture. Commute time translates to fuel costs and vehicle depreciation. Climate affects utility bills seasonally. Access to public parks and free cultural venues reduces entertainment spending. Consider these secondary financial effects alongside the direct cost comparisons when making your final decision.