Is Madison, WI cheaper than Chicago, IL?

Based on cost of living data, Madison, WI is 2.9% cheaper than Chicago, IL. This translates to saving $215 per month.

What salary do I need in Madison, WI to live like I do in Chicago, IL?

If you earn $150,000 in Chicago, IL, you'd need approximately $147,419.056 in Madison, WI to maintain the same standard of living.

How does housing cost compare between Chicago, IL and Madison, WI?

Housing in Madison, WI is 10.2% cheaper than in Chicago, IL. For a two-bedroom apartment, rent is $1,835/month in Madison, WI compared to $1,925/month in Chicago, IL.

How much can I save per month by moving from Chicago, IL to Madison, WI?

Moving from Chicago, IL to Madison, WI could save you approximately $215 per month, or $2581 per year, based on a $150,000 salary.

Chicago, IL vs Madison, WI: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

Data: HUD rent estimates, BLS cost of living

Current salary in Chicago, IL

Numbers update automatically as you type

You'd save $215/month moving to Madison, WI

$150.0K in your current city equals $147.4K in Madison, WI

Rent data from HUD ZIP-level estimates · COL index from Chicago-Naperville-Elgin, IL-IN-WI area

Overall Cost

↓ 2.9%

Less expensive

Monthly Impact

$215

Savings

Annual Impact

$2.6K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Chicago, IL

Population:2746K

Cost Index:

100

100 = national average

Median Home:$305K

Madison, WI

Population:270K

Cost Index:

(3% below avg)

Median Home:$427K

Chicago, IL

The Prairie State

2.7M

Population

State Tax

Yes

Climate

Continental

Notable Facts

•Major transportation hub
•Architectural landmark city
•Great Lakes location

Major Industries

FinanceTechnologyManufacturingTransportation

Madison, WI

The Badger State

270K

Population

State Tax

Yes

Located in Wisconsin, this city has a population of 270K residents.

Cost Breakdown by Category

Annual spending: Chicago, IL vs Madison, WI

Category	Chicago, IL	Madison, WI	Difference	Change
Housing	$3,066/mo	$2,755/mo	↓ $312less	10.2%
Transportation	$1,680/mo	$1,407/mo	↓ $273less	16.3%
Healthcare	$595/mo	$719/mo	↑ $124more	20.8%
Groceries	$1,029/mo	$959/mo	↓ $69.95less	6.8%
Other	$1,758/mo	$1,791/mo	↑ $33.48more	1.9%
All Utilities	$519/mo	$508/mo	↓ $10.93less	2.1%

Housing

↓ 10.2%

Chicago, IL

$3,066

Madison, WI

$2,755

Difference

$312

less

Transportation

↓ 16.3%

Chicago, IL

$1,680

Madison, WI

$1,407

Difference

$273

less

Healthcare

↑ 20.8%

Chicago, IL

$595

Madison, WI

$719

Difference

$124

Groceries

↓ 6.8%

Chicago, IL

$1,029

Madison, WI

$959

Difference

$69.95

less

Other

↑ 1.9%

Chicago, IL

$1,758

Madison, WI

$1,791

Difference

$33.48

All Utilities

↓ 2.1%

Chicago, IL

$519

Madison, WI

$508

Difference

$10.93

less

🏠Rent Comparison

Studio

From$1,600

To$1,370

↓ $230

1 Bed

From$1,710

To$1,605

↓ $105

2 Bed

From$1,925

To$1,835

↓ $90.00

3 Bed

From$2,480

To$2,425

↓ $55.00

Chicago, ILZIP-level data

1BR range: $1,140–$2,370/mo

Madison, WIZIP-level data

1BR range: $1,360–$1,840/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$8,648

Monthly in Chicago, IL

$8,139

Monthly in Madison, WI

$509

Difference

Home Values

Chicago

Madison

$305K

Median Value

$427K

↑ +1.8%

YoY Change

↑ +2.3%

↑ +10.2%

5-Year Change

↑ +37.4%

$116K - $611K

Price Range

$359K - $534K

Homes in Madison are 40% more expensive than Chicago

Calculate payment - Chicago Calculate payment - Madison

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↓ $1.4K

More taxes

Monthly Difference

$119

Less take-home

Effective Rate Diff

0.9%

Rate difference

Chicago, IL

Federal Income Tax

Effective: 18.9%

$25.5K

Illinois State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,797/month

$105.6K

Madison, WI

Federal Income Tax

Effective: 18.9%

$25.5K

Wisconsin State Tax

Effective: 5.9%

$8.8K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 30.6%

$45.9K

Take-Home Pay

$8,678/month

$104.1K

Additional Tax Information

Chicago, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

Madison, WI Tax Rates

Sales Tax:5.6%

Property Tax:1.8%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.