Illinois
High tax burden · COL index 92
Wins 6 categories
New York
High tax burden · COL index 139
Wins 8 categories
New York's top income tax rate is 10.9% vs Illinois's 4.95%. Cost of living in New York (index 139) runs 51% higher than Illinois (index 92). Property taxes are meaningfully different: Illinois averages 1.73% annually vs New York's 1.4%. The median home in New York costs $470K vs $275K in Illinois.
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Category wins
6
Illinois
8
New York
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Chicago offers a more affordable cost of living, with housing costs significantly lower than NYC, and a vibrant local culture. In contrast, NYC boasts unparalleled career opportunities, especially in finance and tech, but at a higher cost of living.