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of course chicago is the much more popular city with more number of amenities...but when you factor in the living costs for what each has to offer including entertainment, outdoors, and overall quality of life, which is the overall better value to live in?
Mnpls is better. Chicago is way overpriced. Sure you have a plethora of things to do, but if you're like most people and can't afford the nicer things then what's the use? Lake Michigan is very nice but so are the 10,000 lakes in MN.
I did deduct a point off for Mnpls for its rougher winters but it still comes on top IMO.
talking metro area or city limits? Chicago's property taxes are very high
Chicagoland's property taxes vary wildly. You can live in Chicago and have a tax rate of 1.5 percent. Chicago has the lowest property tax rate in the region. If you're in a suburb your tax rate could vary from 1.5 percent to as high as 5 percent+. It really depends where you buy. The average tax rate is somewhere around 2 percent. It's worth noting that Minnesota's state income tax is over 7 percent whereas Illinois (for now) is at 3.75. It's all a wash in the end.
On a city to city level, Minneapolis isn't exactly cheap. Both are affordable though.
Last edited by IrishIllini; 12-29-2016 at 07:58 AM..
Chicagoland's property taxes vary wildly. You can live in Chicago and have a tax rate of 1.5 percent. Chicago has the lowest property tax rate in the region. If you're in a suburb your tax rate could vary from 1.5 percent to as high as 5 percent+. It really depends where you buy. The average tax rate is somewhere around 2 percent. It's worth noting that Minnesota's state income tax is over 7 percent whereas Illinois (for now) is at 3.75. It's all a wash in the end.
On a city to city level, Minneapolis isn't exactly cheap. Both are affordable though.
I think people really underestimate how low Chicago's cost-of-living really is. I agree that both are nice cities, and different people may prefer different things, but if we're talking about bang for the buck, Chicago objectively offers more amenities than Minneapolis, at a comparable price.
I think people really underestimate how low Chicago's cost-of-living really is. I agree that both are nice cities, and different people may prefer different things, but if we're talking about bang for the buck, Chicago objectively offers more amenities than Minneapolis, at a comparable price.
People do. There's a misconception that because Chicago is Chicago it costs as much as NYC or LA. That could not be further from the truth, but people believe what they want to.
I was just discussing with another poster in a thread that my parents were able to buy a 2,000 sq. ft, 4 bed/3 bath house in a northern suburb with a fairly large yard AND pay for not only my college education, but also my siblings. They're not rich by any stretch. They both live solidly middle class lifestyles.
source on this? i know that minneapolis isn't cheap in general but I don't see where it's more than chicago, though I know it's not by a wide margin
There's no difference between the two in all honesty. Minneapolis may be marginally more expensive, but it'd really come down to nickels and dimes. Minnesota as a whole is more expensive than Illinois. In the end, both Chicago and Minneapolis are affordable. Really comes down to whether you want "big city" life or something more scaled back.
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