Toronto vs Chicago
Cost of Living Comparison 2026
Chicago is ~6% cheaper overall
Numbeo 2026 country rankings (cost indices) and OECD 2025 PPP rates · Reviewed April 2026
Toronto
Canada
COL+Rent
60.6
Rent Index
49.3
Groceries
73.2
Restaurant
72.3
Chicago
United States
COL+Rent
57.1
Rent Index
44
Groceries
72.9
Restaurant
73.7
Monthly Cost Comparison
| Category | Toronto | Chicago | Diff |
|---|---|---|---|
| Rent (1BR City) | $2,174 | $1,998 | +$176 |
| Rent (1BR Outside) | $1,728 | $1,566 | +$162 |
| Groceries | $410 | $418 | $8 |
| Restaurant Meal | $22 | $22 | $0 |
| Transit Pass | $92 | $73 | +$19 |
| Utilities | $160 | $169 | $9 |
Monthly Budget Comparison
| Lifestyle | Toronto | Chicago |
|---|---|---|
| Minimal | $2,355/mo | $2,189/mo |
| Typical | $3,166/mo | $2,988/mo |
| Comfortable | $3,904/mo | $3,701/mo |
Purchasing Power Equivalence
| Budget in Toronto | ≈ in Chicago | Difference |
|---|---|---|
| $1,500/mo | $1,413/mo | -$87 |
| $2,000/mo | $1,884/mo | -$116 |
| $3,000/mo | $2,827/mo | -$173 |
Detailed Budget Analysis
See exactly how specific monthly budgets break down in each city:
Analysis: Toronto vs Chicago for Expats & Remote Workers
Our data shows Chicago is approximately 6% more affordable than Toronto when combining rent and daily living costs. Toronto's COL+Rent Index of 60.6 vs Chicago's 57.1 (both measured against New York City = 100) reflects a relatively small gap, meaning the decision between these cities often comes down to lifestyle preferences rather than pure cost.
Housing is the biggest differentiator: a city-center one-bedroom in Toronto costs $2,174/month versus $1,998/month in Chicago — giving Chicago a $176/month advantage on housing alone. Over a full year, the rent difference is modest and may be offset by other cost categories.
Day-to-day costs tell a more nuanced story. Groceries in Toronto ($410/mo) vs Chicago ($418/mo) reflect Chicago's lower food prices, while restaurant meals at $22 vs $22 show Toronto is the better value for dining out. For digital nomads and remote workers who eat out frequently, this difference compounds quickly.
Bottom line: If you earn in a strong currency (USD, EUR, GBP) and work remotely, Chicago offers meaningfully better value — your typical monthly budget of $2,988 buys a comfortable lifestyle with room for savings. Use the purchasing power table above to see exactly how far your specific budget stretches in each city.