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Crunching costs, sorting signals, rendering insights.
Moving to Boise looks like a financial upgrade — better income-to-cost ratio.
Boise has a cost index of 110 vs 111 for Chicago. Boise is 1 points cheaper overall. Monthly rent goes from $2,292 to $1,703 (-26%).
If you earn the Chicago median of $75,134, you would need approximately $74,457/year in Boise to maintain equivalent purchasing power, based on the cost index difference of 1 points (1%).
Median rent in Chicago is $2,292/month. In Boise it is $1,703/month — a difference of $589 per month, or $7,068 per year.
Moving to Boise looks like a financial upgrade — better income-to-cost ratio. The salary equivalent to maintain your current lifestyle is $74,457/year in Boise. The median income there is $81,308.
Estimated monthly essentials total $4,390 in Chicago vs $3,783 in Boise — a difference of $607/month ($7,284/year).
The median home price in Boise is $494,696 vs $312,457 in Chicago. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $2,501 in Boise vs $1,580 in Chicago.