Illinois renters must earn more than $20 per hour to afford rent, and while pandemic relief funding will help, federal infrastructure investment is critical. Chicago — In order to afford a modest, two-bedroom apartment in Illinois, renters working full-time need to earn $22.11 per hour.
How much do you need to live comfortably in Illinois?
The Bureau of Economic Analysis estimates personal expenditures by state, and on average, an Illinois resident spends $43,981 per year, as per the bureau’s 2020 data.
What is considered a good salary in Illinois?
While ZipRecruiter is seeing salaries as high as $119,195 and as low as $17,967, the majority of salaries within the Average jobs category currently range between $43,383 (25th percentile) to $64,856 (75th percentile) with top earners (90th percentile) making $78,879 annually in Illinois.
Is Illinois expensive to live in?
Living in Illinois is about as expensive as it is on average across the U.S. as a whole. According to data from the Bureau of Economic Analysis, goods and services in the state cost just 1.9% less than they do on average nationwide. Compared with all other states, Illinois has the 19th highest overall cost of living.
Is Illinois cheap to live?
An amount below 100 means Illinois is cheaper than the US average. A cost of living index above 100 means Illinois, Illinois is more expensive.
Illinois cost of living is 93.4.
| COST OF LIVING | Illinois | United States |
|---|---|---|
| Overall | 93.4 | 100 |
| Grocery | 94 | 100 |
| Health | 97.2 | 100 |
| Housing | 79.5 | 100 |
What state has the lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
What is a good hourly wage in Chicago?
Hourly Rate Salary in Chicago, IL
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $63,980 | $31 |
| 75th Percentile | $49,648 | $24 |
| Average | $42,389 | $20 |
| 25th Percentile | $29,686 | $14 |
What is considered middle class in Illinois?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Family of four |
|---|---|---|
| Hawaii | $30,895 – $92,684 | $61,789 – $185,367 |
| Idaho | $24,267 – $72,801 | $48,534 – $145,601 |
| Illinois | $25,806 – $77,419 | $51,613 – $154,838 |
| Indiana | $23,562 – $70,687 | $47,125 – $141,374 |
What is considered low income in Illinois?
The poverty level in Illinois is based on the federal level. Illinois uses the federal poverty limit as its base for determining poverty in the state, which means the poverty line for a family of four is $26,200 annually and $2,183 monthly.
What is minimum wage in Illinois?
$12.00 per hour
Illinois Minimum Wage for 2021, 2022. Illinois’ state minimum wage rate is $12.00 per hour. This is greater than the Federal Minimum Wage of $7.25.
What is the cheapest city to live in in Illinois?
“The absolute cheapest place to live in Illinois for 2021 is Litchfield, a small city located between St. Louis and Springfield. Litchfield takes the gold medal for affordability thanks to being an equally great place to buy or rent.
Is Texas cheaper than Illinois?
Illinois is 8.7% more expensive than Texas.
Is Illinois cheaper than California?
California is 22.0% more expensive than Illinois.
What is the cheapest suburb to live in Illinois?
- Mitchell. Suburb in Illinois. #1 Suburbs with the Lowest Cost of Living in Illinois.
- South Roxana. Suburb in Illinois. •
- Hartford. Suburb in Illinois. •
- Southwest Chicago Christian School. Private School• OAK LAWN, IL•
- Creve Coeur. Suburb of Peoria, IL. •
- Fairmont City. Suburb in Illinois. •
- East St. Louis.
- Virden. Town in Illinois.
Is it cheaper to live in Iowa or Illinois?
Iowa is 1.0% cheaper than Illinois.
What is the best city to live in Illinois?
Chicago
Best Cities to Live in Illinois
| Rank | City |
|---|---|
| 1 | Chicago |
| 2 | Urbana |
| 3 | Wheaton |
| 4 | Schaumburg |
What is the best state to live in financially?
Overall ranking of best states for your finances
| Rank | State | Score |
|---|---|---|
| 1 | Tennessee | 4.33 |
| 2 | Utah | 4.45 |
| 3 | Idaho | 4.59 |
| 4 | Arkansas | 4.91 |
How can I live for free?
14 Ways to Live Rent-Free
- Teach English Abroad.
- Volunteer with Peace Corps or AmeriCorps.
- Become an Au Pair.
- Trade Services for Free Rent.
- Become a House Sitter.
- Become a Resident Assistant at Your College.
- Find a Job That Provides Housing.
Where is the most affordable place to live?
Here are the top 10 most affordable cities to live in the U.S., according to the Council for Community and Economic Research’s Cost of Living report.
- Cedar Park, Texas.
- Midland, Texas.
- Ogden, Utah.
- Raleigh, North Carolina.
- Provo, Utah.
- Des Moines, Iowa.
- Austin, Texas.
- Minneapolis, Minnesota.
What salary should I be making at my age?
Average Salary in the U.S. by Age & Gender
16 to 19: $467 ($24,284 annually) 20 to 24: $607 ($31,564 annually) 25 to 34: $850 ($44,200 annually) 35 to 44: $999 ($51,948 annually)
What is low income Chicago?
(IHS defines “low-income” as below 150 percent of the poverty line, $18,210 for a single person or $37,650 for a family of four.
