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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
These cities are a genuine bargain: 2 of the 2 cities in this ranking come in below the national cost-of-living average. Chicago leads at an index of 111 — we had to double-check this one — with rent at just $2,292/month — -21% less than the $1,895 national median. Here are the numbers, sourced fro…
These cities are a genuine bargain: 2 of the 2 cities in this ranking come in below the national cost-of-living average. Chicago leads at an index of 111 — we had to double-check this one — with rent at just $2,292/month — -21% less than the $1,895 national median. Here are the numbers, sourced from federal data updated in 2026.
Chicago comes in at #1. Rent is $2,292 a month. Household income is $75,134. The cost of living index is 111. Take it or leave it — the data is what it is.
The ranking uses a composite of 2026 data from Census Bureau population/income surveys, Zillow rent and home price indices, BLS salary benchmarks, and Tax Foundation tax rates. Chicago (index 111, rent $2,292); Oklahoma City (index 89, rent $1,255). Each city profile below links to the full detail page with 12-month trends, salary breakdowns, and cost category comparisons (though the trend is moving in the right direction).
That's more or less in line with the region.
After analyzing hundreds of cities, one thing stands out: Chicago rent up 5% over the past year. Rent in #1-ranked Chicago has increased from $2,179 to $2,292/mo over the past 12 months — a 5% increase. Rising costs may erode its top ranking over time. For anyone relocating from a high-cost market, this will feel like a raise.
It checks most boxes — but the housing costs are the asterisk. In Chicago, the housing index sits at 127 — above average and worth factoring in.
Keep reading — the next section adds critical context. The national baseline: 112 cost index, $1,895/month rent, $80,367 household income. That's the yardstick. The cities ranked here blow past it — starting with Chicago at just 111 on the index.
What to do with this data: use the ranking as a shortlist, then dig into the city profiles for trend lines and category breakdowns. The difference between #1 and #5 is often smaller than the difference between "good on paper" and "actually fits my life." Compare your top picks with our calculator to see real take-home numbers.
#1 Ranked: Chicago, IL — cost index 111, rent $2,292/mo, income $75,134
Chicago rent up 5% over the past year
2 of 2 cities come in below the national cost-of-living average of 112
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
| Rank | City | Cost Index | Median Rent | |
|---|---|---|---|---|
| 1 | ChicagoIL | 111 | $2,292 | Details |
| 2 | Oklahoma CityOK | 89 | $1,255 | Details |
2,664,452 residents · Illinois
Chicago earns its position at #1 through a combination that's hard to replicate. The 111 cost index sits 1 points below the national baseline, and the $75,134 median income means purchasing power here is amplified by the low cost base. Homes list at $312,457 — $154,913 below the national median — a genuine ownership opportunity. On the cost side, Utilities leads the way at 102, while Housing trails at 127.
702,767 residents · Oklahoma
Why Oklahoma City ranks #2: the numbers tell a clear story. At 89 on the cost index, residents save roughly 23% less than the typical American. Rent sits at $1,255/month while the median household pulls in $66,702/year. The Housing category is particularly strong at 73, though Healthcare (92) lags behind. Home prices average $203,329 — $264,041 below the national median (not adjusted for inflation, but still telling).
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
Chicago (ranked #1) has a cost index of 111 and rent of $2,292/mo, while Oklahoma City (ranked #2) has a cost index of 89 and rent of $1,255/mo — a 22-point difference in cost of living.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Chicago is $2,292/month as of 2026, based on Zillow's Observed Rent Index. This is $397 above the national median of $1,895/month.
The median home price in Chicago is $312,457, which is 4.2× the local median income. It's on the edge of affordability for median-income households. The national median home price is $467,370.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.