How much does an Illinois resident need to make annually to ‘live comfortably?’
A single adult in Illinois needs to make more than twice the median per capita income to “live comfortably” in 2025, according to a recent report from finance website SmartAsset.
The June 4 report used data from the Massachusetts Institute of Technology’s Living Wage Calculator, and considered a budget with 50% of income going to necessities, 30% for discretionary spending and 20% for long-term goals such as retirement or debt repayment to evaluate what’s considered “living comfortably.”
SmartAsset defines living comfortably as “being able to afford hobbies, vacations, retirement savings, education funds, and the occasional emergency — in addition to necessities like housing, groceries, transportation and medical expenses.”
Families need to see an income increase each year to maintain the same lifestyle under inflation. The U.S. Bureau of Labor Statistics reports the overall 12-month inflation rate is 2.7% as of June, with steeper increases for some categories, such as food and shelter.
Although the statewide median per capita income of $48,842 is not enough to “live comfortably” under SmartAsset’s definition, some Illinois counties have much higher typical salaries. Lake, DuPage, Kendall, Will and McHenry counties are the Land of Lincoln’s wealthiest, according to another report from SmartAsset.
Conversely, seven of the 10 poorest counties in the state are found in southern Illinois, according to SmartAsset. Alexander County was found to be the poorest, with a median income of $40,365 and a poverty rate of 25.8%.
Here’s what it takes to live comfortably in Illinois, according to the finance website.
What’s a comfortable income in Illinois?
A single adult in Illinois needs to make $98,010 per year to live comfortably, SmartAsset reports, while a family of four would need an income of $234,291. Illinois ranked 20th for the highest income needed for an individual, and 22nd for the income needed for a family.
Since SmartAsset calculated the wage needed to “live comfortably,” it’s quite a bit higher than what MIT calculates as the state’s “living wage,” or just enough to cover essentials such as food, housing, medical care, transportation and more. MIT reports a living wage for an individual in Illinois is $49,004.80.
Here’s how Illinois compared to the other states in the top 20 for the highest income needed for an individual:
- Hawaii: $124,467 annual income for an individual to live comfortably
- Massachusetts: $120,141
- California: $119,475
- New York: $114,691
- Washington: $109,658
- New Jersey: $108,992
- Maryland: $108,867
- Virginia: $106,704
- Colorado: $105,955
- Connecticut: $105,165
- Oregon: $104,666
- New Hampshire: $103,085
- Arizona: $101,587
- Rhode Island: $101,338
- Alaska: $100,298
- Vermont: $99,632
- Georgia: $99,590
- Utah: $99,466
- Nevada: $99,216
- Illinois: $98,010
Missouri landed in 39th place in the comparison, with an annual income of $86,819 needed for an individual to live comfortably, or $218,317 for a family of four. MIT reports Missouri’s living wage is $43,409.60 for a single individual.
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