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jlaurend | 5 years ago

Chicago's a very nice city. There are basically three main factors keeping the cost low currently:

1. Population decline. 2. A very large amount of good housing stock. Chicago's completely flat with solid public transit reaching out to the suburbs. 3. Lower proportion of tech and startups. Similar to how tech has driven up the CoL in many cities, the relative lack of tech in Chicago has kept CoL down.

Winter is rough in Chicago, but the CoL in Boston has skyrocketed which invalidates that as being the _only_ reason.

discuss

shinkim0914|5 years ago

Agreed, weather cannot be the only reason. What drives the population decline in Chicago despite the low CoL?

toomuchtodo|5 years ago

Rising tax burden and fiscal mismanagement. Check out property taxes and the debt Chicago, Cook County, and the state carry.

Your dollars go further in Tennessee, Florida, or Texas (all of which have no state income tax).

pchristensen|5 years ago

Chicago has a huge part (1M+) that's effectively a Rust Belt city like Cleveland, St. Louis, or Detroit. It has deindustrialized and suffered disinvestment, and anyone in that section that has the ability to leave does.