Houston's housing costs are noticeably lower, especially if you're looking to buy. However, factor in transportation; Chicago has a much better public transit system, which could offset some of the housing savings in Houston where you'd likely need a car. Property taxes in Texas (Houston) are also something to consider, as they can be quite high. With your salary range, you'll likely be comfortable in either city, but Chicago will probably require more budgeting, particularly for rent or a mortgage in a desirable, walkable area.