Chicago, IL vs Palm Bay, FL
Simple answer
You'd likely save $232 a month in Palm Bay.
This is the HUD 2-bedroom fair-market rent for October 2026 through September 2027. It is not your lease.
The largest cost gap in this pair is Census rent. Census median gross rent differs by $212, with Palm Bay higher.
Illinois taxes wages at a flat 4.95%. Florida has no tax on wages. Combined sales tax differs by 2.0 percentage points, higher in Illinois. The effective property tax gap is 1.17 percentage points, higher in Illinois.
After a move from Illinois to Florida, these benefit results change for a family of four at $40,000 and a single adult at $18,000: Marketplace premium tax credits, Medicaid and CHIP.
A $75,000 salary in Chicago lines up with about $72,401 in Palm Bay on the 2024 all-items price parity. Census median gross rent and the commute figures are 2024. Fair Market Rents are fiscal year 2027.
Chicago
Chicago-Naperville-Elgin, IL-IN
- 2-bedroom Fair Market Rent
- $2,011
- HUD area
- Chicago-Joliet-Naperville, IL HUD Metro FMR Area
- Census median gross rent
- $1,469
- All-items price parity
- 103.6
- Goods price parity
- 107.3
- Utilities price parity
- 83.6
- Mean commute
- 30.9 min
- Median household income
- $90,770
Palm Bay
Palm Bay-Melbourne-Titusville, FL
- 2-bedroom Fair Market Rent
- $1,779
- HUD area
- Palm Bay-Melbourne-Titusville, FL MSA
- Census median gross rent
- $1,681
- All-items price parity
- 100.0
- Goods price parity
- 96.2
- Utilities price parity
- 88.1
- Mean commute
- 26.5 min
- Median household income
- $78,196
Equivalent salary
The first number keeps the same place in the national price level. The second also runs 2026 federal income tax, employee Social Security and Medicare, and a simplified state income tax. Groceries use the BEA goods price parity, not a grocery receipt.
$72,401
Salary in Palm Bay that matches the 2024 all-items regional price parity.
$67,070
Gross salary in Palm Bay whose after-tax pay buys the same basket, using price parities.
$66,348
Scales the salary by the ratio of HUD 2-bedroom Fair Market Rents. Rent is not the whole budget.
Taxes on the two sides of the move
| Tax | Illinois | Florida |
|---|---|---|
| State income tax on wages | 4.95% flat | No wage tax |
| Combined sales tax, Jan 1, 2026 | 9.0% | 7.0% |
| Effective property tax, ACS 2024 median / median | 1.92% | 0.75% |
On a $400,000 home, the state median effective rate implies about $7,694 a year in Illinois and $3,016 in Florida. That illustration is not a local bill. Childcare prices are not in the verified dataset for these metros.
Benefits if you land in Florida
Same household, $40,000 a year, scored once in Illinois and once in Florida. This is an illustration, not your application.
Food stamps (SNAP)
ChicagoLikely eligible
Palm BayLikely eligible
Medicaid and CHIP
ChicagoLikely eligible
Palm BayLikely eligible
WIC
ChicagoLikely eligible
Palm BayLikely eligible
School meals
ChicagoLikely eligible
Palm BayLikely eligible
LIHEAP
ChicagoMaybe
Palm BayMaybe
Earned Income Tax Credit
ChicagoLikely eligible
Palm BayLikely eligible
Child Tax Credit
ChicagoLikely eligible
Palm BayLikely eligible
Marketplace premium tax credits
ChicagoUnlikely
Palm BayLikely eligible
Lifeline phone and internet
ChicagoLikely eligible
Palm BayLikely eligible
SSI
ChicagoUnlikely
Palm BayUnlikely
| Program | Chicago | Palm Bay |
|---|---|---|
| Food stamps (SNAP) | Likely eligible | Likely eligible |
| Medicaid and CHIP | Likely eligible | Likely eligible |
| WIC | Likely eligible | Likely eligible |
| School meals | Likely eligible | Likely eligible |
| LIHEAP | Maybe | Maybe |
| Earned Income Tax Credit | Likely eligible | Likely eligible |
| Child Tax Credit | Likely eligible | Likely eligible |
| Marketplace premium tax credits | Unlikely | Likely eligible |
| Lifeline phone and internet | Likely eligible | Likely eligible |
| SSI | Unlikely | Unlikely |
Marketplace premium tax credits changes. In Chicago the result is “Unlikely — Medicaid is the closer program.” In Palm Bay it is “Likely inside the 2026 subsidy range.” Illinois expanded Medicaid, and this income is in the Medicaid range. Marketplace subsidies are usually not the program in that case.
Related comparisons
From Chicago
The eight largest 2-bedroom Fair Market Rent gaps from Chicago.
- Chicago and San Francisco · rent gap $1,686
- Chicago and San Jose · rent gap $1,261
- Chicago and Boston · rent gap $997
- Chicago and McAllen · rent gap $994
- Chicago and Wichita · rent gap $968
- Chicago and New York · rent gap $960
- Chicago and Los Angeles · rent gap $953
- Chicago and Little Rock · rent gap $890
Nearby metros
How the salary and tax math works · The reverse city order redirects to this address.