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A good salary in Illinois depends heavily on whether you live in Chicago or elsewhere in the state. Chicago is a major metro with higher costs, while downstate Illinois is very affordable.
Quick Answer
| Situation | Good Salary | Comfortable Salary |
|---|---|---|
| Single, Chicago | $70,000-$100,000 | $60,000-$70,000 |
| Single, Chicago suburbs | $60,000-$85,000 | $50,000-$60,000 |
| Single, Downstate IL | $50,000-$65,000 | $40,000-$50,000 |
| Family of 4, Chicago | $110,000-$150,000 | $90,000-$110,000 |
Key consideration: Illinois has a flat 4.95% state income tax plus high property taxes.
Why Chicago Is Moderately Expensive
Chicago’s cost of living is driven by:
- Moderate housing costs (more affordable than NYC, SF, LA)
- Property taxes (among highest in the nation)
- State income tax (4.95% flat rate)
- Strong job market in finance, healthcare, and tech
Good Salary by Illinois Region
Chicago (City Proper)
Chicago offers big-city amenities at lower costs than coastal metros.
| Category | Single Person | Family of 4 |
|---|---|---|
| Minimum to survive | $48,000 | $90,000 |
| Comfortable | $68,000 | $115,000 |
| Good lifestyle | $95,000+ | $155,000+ |
Median home price: ~$350,000
Average rent (1BR): ~$2,000/month
Chicago Suburbs
Suburbs vary widely but generally offer more space for your money.
| Category | Single Person | Family of 4 |
|---|---|---|
| Minimum to survive | $42,000 | $80,000 |
| Comfortable | $58,000 | $100,000 |
| Good lifestyle | $80,000+ | $135,000+ |
Median home price: ~$320,000-$450,000 (varies by suburb)
Average rent (1BR): ~$1,500-$1,800/month
Downstate Illinois (Springfield, Peoria, Champaign)
Downstate cities are significantly more affordable.
| Category | Single Person | Family of 4 |
|---|---|---|
| Minimum to survive | $30,000 | $55,000 |
| Comfortable | $42,000 | $70,000 |
| Good lifestyle | $55,000+ | $90,000+ |
Median home price: ~$180,000-$220,000
Average rent (1BR): ~$900-$1,100/month
After-Tax Income in Illinois
Illinois has a flat 4.95% state income tax:
| Gross Salary | IL After Tax | TX After Tax (no state tax) |
|---|---|---|
| $50,000 | $41,900 | $43,500 |
| $75,000 | $61,100 | $63,500 |
| $100,000 | $79,800 | $83,400 |
| $150,000 | $115,400 | $123,000 |
Illinois’s High Property Taxes
Illinois has the second-highest property taxes in the U.S.:
| Home Value | Annual Property Tax (avg 2.2%) |
|---|---|
| $300,000 | $6,600 |
| $400,000 | $8,800 |
| $500,000 | $11,000 |
Factor this into housing affordability calculations.
How Much House Can You Afford in Illinois?
| Annual Salary | Max Home Price (28% rule) |
|---|---|
| $75,000 | $280,000-$310,000 |
| $100,000 | $380,000-$420,000 |
| $150,000 | $580,000-$640,000 |
Chicago vs. Other Major Cities
| City | Good Salary (Single) | 1BR Rent Average |
|---|---|---|
| Chicago | $70,000-$100,000 | $2,000/mo |
| New York City | $100,000-$150,000 | $3,500/mo |
| Los Angeles | $90,000-$120,000 | $2,300/mo |
| Denver | $70,000-$95,000 | $1,800/mo |
Chicago offers big-city living at a significant discount vs. coastal metros.
Related Guides
- What is a good salary in Texas?
- What is a good salary in New York?
- How much house on $100K salary?
- US Income Percentile Calculator
Sources
- U.S. Bureau of Labor Statistics. “Occupational Employment and Wage Statistics, May 2024.” bls.gov/oes
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