Chicago-Naperville-Elgin vs New York-Newark-Jersey City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Chicago-Naperville-Elgin is 88% cheaper for renters. A 2-bedroom rents for $1,222/mo vs $2,293/mo in New York-Newark-Jersey City — saving $12,852/year.
Rent by Unit Size
| Unit Size | Chicago-Naperville-Elgin | New York-Newark-Jersey City | Difference |
|---|---|---|---|
| Studio | $849 | $1,531 | $682 |
| 1 Bedroom | $1,023 | $1,813 | $790 |
| 2 Bedrooms | $1,222 | $2,293 | $1,071 |
| 3 Bedrooms | $1,528 | $2,674 | $1,146 |
| 4 Bedrooms | $1,886 | $3,167 | $1,281 |
| Median Income | $79,852 | $124,777 | $44,925 |
Chicago-Naperville-Elgin
- Studio
- $849/mo
- 1 BR
- $1,023/mo
- 2 BR
- $1,222/mo
- 3 BR
- $1,528/mo
- 4 BR
- $1,886/mo
- Median Income
- $79,852/yr
New York-Newark-Jersey City
- Studio
- $1,531/mo
- 1 BR
- $1,813/mo
- 2 BR
- $2,293/mo
- 3 BR
- $2,674/mo
- 4 BR
- $3,167/mo
- Median Income
- $124,777/yr
Frequently Asked Questions
Is Chicago-Naperville-Elgin or New York-Newark-Jersey City cheaper to rent in?
Chicago-Naperville-Elgin is cheaper — a 2-bedroom Fair Market Rent is $1,222/mo vs $2,293/mo in New York-Newark-Jersey City. That's $1,071/mo or $12,852/year more expensive in New York-Newark-Jersey City (88% higher).
What is the 2-bedroom rent in Chicago-Naperville-Elgin vs New York-Newark-Jersey City?
The HUD Fair Market Rent for a 2-bedroom in Chicago-Naperville-Elgin is $1,222/month. In New York-Newark-Jersey City, a 2-bedroom FMR is $2,293/month.
How do incomes compare between Chicago-Naperville-Elgin and New York-Newark-Jersey City?
The median household income in Chicago-Naperville-Elgin is $79,852/year. In New York-Newark-Jersey City it is $124,777/year. New York-Newark-Jersey City has the higher median income.
What is the studio rent in Chicago-Naperville-Elgin vs New York-Newark-Jersey City?
A studio apartment Fair Market Rent in Chicago-Naperville-Elgin is $849/mo. In New York-Newark-Jersey City it is $1,531/mo.