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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Moving to Savannah is a financial step down — higher costs without proportional income gain.
Savannah has a cost index of 102 vs 111 for Chicago. Savannah is 9 points cheaper overall. Monthly rent goes from $2,292 to $1,736 (-24%).
If you earn the Chicago median of $75,134, you would need approximately $69,042/year in Savannah to maintain equivalent purchasing power, based on the cost index difference of 9 points (8%).
Median rent in Chicago is $2,292/month. In Savannah it is $1,736/month — a difference of $556 per month, or $6,672 per year.
Moving to Savannah is a financial step down — higher costs without proportional income gain. The salary equivalent to maintain your current lifestyle is $69,042/year in Savannah. The median income there is $56,782.
Estimated monthly essentials total $4,390 in Chicago vs $3,683 in Savannah — a difference of $707/month ($8,484/year).
The median home price in Savannah is $322,470 vs $312,457 in Chicago. With 20% down and a 6.5% rate, the estimated monthly mortgage payment is $1,631 in Savannah vs $1,580 in Chicago.