Financial Profile: Illinois
Financial landscape, tax rates, cost of living, and median income scoring for Illinois residents.
Illinois at a Glance
Avg Salary
$62,000
Cost of Living
93
Top Tax Rate
5.0%
Adjusted Income
$66,666
Monthly Take-Home
$4,059
Max Rent (30%)
$1,550
Financial Genome at Median Income
Scores calculated for someone earning $62,000/yr in Illinois with typical expenses.
PPI
53
C+
FPI
25
F
LRS
53
C+
REW
30
D
Living in Illinois: Financial Overview
Illinois has a flat 4.95% income tax rate, with no local income taxes.
- Flat tax rate
- Major metro (Chicago)
- High property taxes
Major Cities
Chicago, Aurora, Naperville, Rockford
With a cost of living index of 93 (below the national average of 100), your dollar goes further in Illinois. A $60,000 salary here has the purchasing power equivalent of $64,516 in an average-cost area.
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