Average Cost of Living in Illinois: $43,981 per year 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.
How much does it cost to live in Illinois per month?
The typical renter in Illinois spends $984 a month on housing, $39 less than the $1,023 national median monthly rent. Monthly rent for a one-bedroom in the state is $851, while the typical rent for a unit with five or more bedrooms is $1,454.
How much does it cost to live in Illinois per year?
Illinois cost of living is 93.4
| COST OF LIVING | Illinois | United States |
|---|---|---|
| Housing | 79.5 | 100 |
| Median Home Cost | $234,000 | $291,700 |
| Utilities | 97.7 | 100 |
| Transportation | 106.2 | 100 |
How much do you need to make to live in Illinois?
Residents can also expect to pay $1,691 per month on average to rent an apartment or townhome. According to the team at GOBankingRates, homeowners need to earn $84,765 per year to live comfortably in Chicago. Renters need to earn $94,917 per year.
Is Illinois cheap to live?
Illinois state average rent prices
While the average rent is $1,712 for a one-bedroom in Illinois, which is down 4.39 percent compared to last year, it’s possible to find places for less than $1,000 a month throughout the state.
What is the cheapest state to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
Is it worth living in Illinois?
Illinois is a great state and Chicago is its gem. No one can deny that the living experience Illinois offers is exceptional and unique. And while comparing the pros and cons of living in Illinois, you also would have realized that the state also ranks high in outdoor entertainment, food scene, and natural beauty.
What is a comfortable wage in Illinois?
Living Wage Calculation for Cook County, Illinois
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 1 Child | |
| Living Wage | $19.29 | $33.96 |
| Poverty Wage | $6.19 | $10.56 |
| Minimum Wage | $12.00 | $12.00 |
What salary do you need to live comfortably?
The average salary needed to live comfortably across all of the major metro areas is $57,013, according to SmartAsset.
Is Illinois cheaper than California?
California is 22.0% more expensive than Illinois.
What is the cheapest place to live in Illinois?
“The absolute cheapest place to live in Illinois for 2021 is Litchfield, a small city located between St. Louis and Springfield.
This Is The Cheapest Place To Live In Illinois
- Litchfield.
- Clinton.
- Pana.
- Creve Coeur.
- Hillsboro.
- Monmouth.
- Hooperston.
- Paris.
What’s 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 considered middle class income in Illinois?
How much you have to earn to be middle class in every state
| State | Middle-class income | Median household income |
|---|---|---|
| Illinois | $53,961 | $69,187 |
| North Dakota | $52,935 | $64,577 |
| Maine | $51,608 | $58,924 |
| Pennsylvania | $51,346 | $63,463 |
Where is the cheapest 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.
Is Illinois Safe?
Curiously, Illinois is 1 of just 3 states in the nation with both a higher-than-average violent crime rate and a lower-than-average property crime rate. 54% of Illinois respondents worry about property crime happening to them—12 points higher than nationwide worry.
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 |
What is the cheapest and safest state to live in?
Here are the 10 most affordable states in the U.S.:
- Indiana. Average cost of living index: 90.57.
- Michigan. Average cost of living index: 90.40.
- Missouri. Average cost of living index: 89.75.
- Tennessee. Average cost of living index: 89.49.
- Georgia. Average cost of living index: 89.30.
- Arkansas.
- Alabama.
- Oklahoma.
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.
Is it cheaper to live in Florida or Illinois?
Florida is 1.9% more expensive than Illinois.
Where should you not live in Illinois?
The 20 Worst Places to Live in Illinois
- Alton.
- Peoria.
- Springfield.
- Rockford.
- Carbondale.
- Metropolis.
- Chicago. For those who live in Chicago, it may not surprise them to learn that the city is one of the worst locations to live in the state.
- Matteson. Matteson is a suburb of Chicago that is home to 19,336 people.
