$43,981 per year.
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.
What is the cost of living in Illinois 2022?
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.
Is Illinois an expensive state to live in?
The cost of living in Illinois is slightly lower than in the rest of the nation. Best Places ranks affordability on a scale above and below 100. If a place has a rating above 100, then it is more expensive than the national average. This group gives Illinois a score of 93.4 for overall affordability.
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.
What is Illinois minimum wage?
$12.00
Q4: What is the current Cook County Minimum Wage?
| Illinois State Minimum Wage Chart | ||
|---|---|---|
| 1/1/20 | $9.25 | $8.00 |
| 7/1/20 | $10.00 | $8.00 |
| 1/1/21 | $11.00 | $8.50 |
| 1/1/22 | $12.00 | $9.25 |
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.
Which 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 livable salary in Chicago?
The median income for Chicagoans is $58,247. And to live comfortably in Chicago in a one-bedroom apartment you would need around $43,200 a year, which translates to $21.60 per hour.
What is the safest place to live in Illinois?
The Top 10 Safest Cities in Illinois
- Manhattan.
- Hawthorn Woods.
- Gilberts.
- Huntley.
- Hinsdale.
- Justice.
- La Grange Park.
- Naperville.
What is the best area to live in Illinois?
Three cities in Illinois and several from the Midwest ranked among the best to live across the U.S., according to a new report. Peoria, Chicago and Rockford all earned spots in U.S. News and World Report’s list of the top 150 places to live in 2020 to 2021.
What are the 10 most expensive states to live in?
Here are the 10 states with the highest cost index:
- Hawaii (193.3)
- New York (148.2)
- California (142.2)
- Massachusetts (135)
- Oregon (130.1)
- Alaska (127.1)
- Maryland (124)
- Connecticut (121.6)
What is middle class 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 |
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 the poorest town in Illinois?
(The Center Square) – East St. Louis was ranked the poorest city in Illinois in a 24/7 Wall St. analysis examining U.S. municipalities where households earn less than the nation’s median annual household income of $65,712. With a population of 26,543, East St.
How much does McDonald’s pay per hour in Illinois?
Average McDonald’s Crew Member hourly pay in Illinois is approximately $13.05, which meets the national average.
What state has lowest minimum wage?
Mississippi. No state minimum wage law. Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour.
What state has highest minimum wage?
Excluding Washington, D.C.’s $15.20 hourly minimum wage, California has the highest in the country at $14 per hour. Washington and Massachusetts are close behind, with $13.69 per hour and $13.50 per hour, respectively.
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 good salary at 30?
From ages 25-34, the median wage is $60,000 and will increase to a median wage of $90,000 by ages 45-59. Compare that with a major in the health field, which has a median wage of $53,000 at ages 25-34 and grows to a median wage of $72,000 by ages 45-59.
Can you live comfortably on 40000 a year?
The median income for individuals in the United States is $33,706 as of 2018. This means that at $40,000, you’re making more money than over half of Americans, which might suggest that $40,000 is plenty to live comfortably.