Is Toledo, OH cheaper than Chicago, IL?

Based on cost of living data, Toledo, OH is 16.2% cheaper than Chicago, IL. This translates to saving $1217 per month.

What salary do I need in Toledo, OH to live like I do in Chicago, IL?

If you earn $150,000 in Chicago, IL, you'd need approximately $135,401.267 in Toledo, OH to maintain the same standard of living.

How does housing cost compare between Chicago, IL and Toledo, OH?

Housing in Toledo, OH is 47.7% cheaper than in Chicago, IL. For a two-bedroom apartment, rent is $1,075/month in Toledo, OH compared to $1,925/month in Chicago, IL.

How much can I save per month by moving from Chicago, IL to Toledo, OH?

Moving from Chicago, IL to Toledo, OH could save you approximately $1217 per month, or $14599 per year, based on a $150,000 salary.

Chicago, IL vs Toledo, OH: Cost of Living Comparison 2026

Tap to swap

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 $1.2K/month moving to Toledo, OH

$150.0K in your current city equals $135.4K in Toledo, OH

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

Overall Cost

↓ 16.2%

Less expensive

Monthly Impact

$1,217

Savings

Annual Impact

$14.6K

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

Toledo, OH

Population:265K

Cost Index:

(16% below avg)

Median Home:$130K

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

Toledo, OH

The Buckeye State

265K

Population

State Tax

Yes

Located in Ohio, this city has a population of 265K residents.

Cost Breakdown by Category

Annual spending: Chicago, IL vs Toledo, OH

Category	Chicago, IL	Toledo, OH	Difference	Change
Housing	$3,066/mo	$1,605/mo	↓ $1,462less	47.7%
Groceries	$1,029/mo	$963/mo	↓ $66.20less	6.4%
Transportation	$1,680/mo	$1,617/mo	↓ $63.49less	3.8%
All Utilities	$519/mo	$565/mo	↑ $46.31more	8.9%
Other	$1,758/mo	$1,723/mo	↓ $34.90less	2.0%
Healthcare	$595/mo	$572/mo	↓ $22.82less	3.8%

Housing

↓ 47.7%

Chicago, IL

$3,066

Toledo, OH

$1,605

Difference

$1,462

less

Groceries

↓ 6.4%

Chicago, IL

$1,029

Toledo, OH

$963

Difference

$66.20

less

Transportation

↓ 3.8%

Chicago, IL

$1,680

Toledo, OH

$1,617

Difference

$63.49

less

All Utilities

↑ 8.9%

Chicago, IL

$519

Toledo, OH

$565

Difference

$46.31

Other

↓ 2.0%

Chicago, IL

$1,758

Toledo, OH

$1,723

Difference

$34.90

less

Healthcare

↓ 3.8%

Chicago, IL

$595

Toledo, OH

$572

Difference

$22.82

less

🏛️ Local Income Taxes

Toledo, OH: Toledo Municipal Income Tax$3,750/yr (2.5%)

Chicago, IL has no local income tax.

Local taxes are in addition to state income tax. Not all cities levy local income taxes.

🏠Rent Comparison

Studio

From$1,600

To$772

↓ $828

1 Bed

From$1,710

To$818

↓ $892

2 Bed

From$1,925

To$1,075

↓ $850

3 Bed

From$2,480

To$1,379

↓ $1,101

Chicago, ILZIP-level data

1BR range: $1,140–$2,370/mo

Toledo, OHZIP-level data

1BR range: $740–$930/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

$7,045

Monthly in Toledo, OH

$1,603

Difference

Home Values

Chicago

Toledo

$305K

Median Value

$130K

↑ +1.8%

YoY Change

↑ +5.6%

↑ +10.2%

5-Year Change

↑ +41%

$116K - $611K

Price Range

$47K - $314K

Homes in Toledo are 58% less expensive than Chicago

Calculate payment - Chicago Calculate payment - Toledo

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

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $3.0K

Per year

Monthly Difference

$250

More take-home

Effective Rate Diff

2.0%

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

Toledo, OH

Federal Income Tax

Effective: 18.9%

$25.5K

Ohio State Tax

Effective: 3.0%

$4.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 27.6%

$41.4K

Take-Home Pay

$9,047/month

$108.6K

Additional Tax Information

Chicago, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

Toledo, OH Tax Rates

Sales Tax:7.2%

Property Tax:1.6%

💡 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.