Cost estimates include expenses related to housing, food, child care, transportation, health care, taxes, and other necessities. In Illinois, the estimated cost of living for a family of four stands at $86,153 for 2022, slightly lower than the national average and the 17th highest among states.
What is the current cost of living in Illinois?
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.
Is Illinois the most expensive state to live in?
Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Hawaii has the highest costs across all indexes, except healthcare.
What is a good salary for Illinois?
Avg. Base Salary (USD)
State Of Illinois pays an average salary of $74,750 and salaries range from a low of $64,910 to a high of $86,014.
How much money do you need to live comfortably?
In a 2021 modern wealth survey, Americans told Charles Schwab that they need an average net worth of $934,000 to be financially comfortable. Another survey by Personal Capital says that Americans believe that they need to save an average of $516,000 to maintain financial health.
What is the average cost of a house in Illinois?
An amount below 100 means Illinois is cheaper than the US average.
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 |
Where is the cheapest state to live?
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.
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.
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. Litchfield takes the gold medal for affordability thanks to being an equally great place to buy or rent.
What is middle class in Illinois?
The middle class is usually defined as the group of earners in the center of the earning scale.
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 |
What is considered high income in Illinois?
In Illinois, the average worker earns $23 per hour and the median annual income is $32,000. The upper class of earners takes home $84,000 or more while the lower class earns $19,000 or less.
Can you live on 2000 a month?
Living on $2,000 a month is possible, and we were not the only ones to ever do it! Our budget isn’t nearly as tight now, but living with less taught us so much about how to live frugally and make the most of what we had.
What is a comfortable salary in 2022?
To live comfortably in the US, a household’s income should be $70,000 or greater. However, most Americans are only earning an average income of $63,000.
How can I live on 30k a year?
How to Live Surprisingly Well on Just $30,000 a Year
- Know what you can afford to spend.
- Take advantage of meal prepping.
- Be open to different forms of transport.
- Financial assistance is available.
- It’s possible to find an affordable phone plan.
- You can find some great deals thrift shopping.
Is it worth living in Illinois?
Illinois is the 18th-best state to live in the country, according to WalletHub’s 2021 Best States to Live In list. WalletHub compared all 50 states across five metrics covering affordability, economy, education and wealth, quality of life and safety.
How much do utilities cost per month in Illinois?
Utilities and Services
Chicagoans pay about $132 on average for utilities including gas, electric, water, and garbage pickup. Utilities in Chicago are about 7% less expensive than in the rest of the country. Home internet service adds about $68 to your monthly budget in Chicago.
Is Illinois a cheap place to live?
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.
Where can I live for $500 a month in USA?
Without further ado – and in no particular order – here’s what $500 per month can get you in ten affordable U.S. cities:
- Greenville, OH. Listing: Wayne Crossing.
- Wichita, KS. Listing: Eagle Creek.
- Lawton, OK. Listing: Sheridan Square Apartments.
- Amarillo, TX.
- Indianapolis, IN.
- Searcy, AR.
- Shreveport, LA.
- Jackson, MS.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.
How can I live free?
10 Ways to Live Life More Freely Every Day
- Care less about others’ opinion of you & more about your opinion of you.
- Shift your perspective from negative to positive in each situation.
- Be honest with yourself and with others.
- Adjust your attitude about possessions.
- Find movement and exercise daily.
- Laugh and smile.
Where is the nicest but 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.