Salary Needed to Live in Bloomington as a Retiree
A retired individual (65+) needs approximately $48,417/year to live comfortably in Bloomington, IL, including 5% savings.
Direct Answer
A retiree needs about $48,417/year to live comfortably in Bloomington, IL. The bare-minimum salary is $45,146/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $2,941.
The minimum scenario leaves about $2,784/mo after tax and no planned savings. The comfortable scenario uses $4,035/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$48,417
with 5% savings
Bare Minimum
$45,146
$3,762/mo gross, no savings buffer
Monthly Expenses
$2,784
24% below national avg
Detailed Monthly Budget for a Retiree in Bloomington
| Expense | Bloomington | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $811 | $1,448 | -44% |
| Groceries | $213 | $189 | +13% |
| Utilities | $169 | $183 | -8% |
| Transportation | $199 | $211 | -6% |
| Car Insurance | $176 | $211 | -17% |
| Health Insurance | $523 | $630 | -17% |
| Medicare Supplement | $180 | $200 | -10% |
| Prescription Drugs | $135 | $150 | -10% |
| Internet + Phone | $108 | $120 | -10% |
| Recreation & Social | $180 | $200 | -10% |
| Home Maintenance | $90 | $100 | -10% |
| Total Monthly | $2,784 | $3,642 | -24% |
How We Calculated the Salary
Monthly expenses:$2,784
Target savings (5%):$157/mo
Monthly after-tax needed:$2,941
Effective tax rate:26%
Gross annual salary needed:$48,417
What Drives the Salary Number?
Housing
$811
1-2BR Senior-Friendly rent is 29% of this monthly budget.
Taxes
26%
Estimated federal plus IL state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$157/mo is reserved for savings so the salary is not just break-even.
Local index
90/100
Bloomington is below the national baseline; the model adjusts baseline spending by local rent and cost data.
Compare Salary Needed in Nearby midwest Cities
Salary Planning Checklist
- Keep 1-2br senior-friendly housing near $811/mo or adjust the salary target upward.
- Budget $693/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $45,146/year as the survival floor and $48,417/year as the healthier negotiation target.
Other Household Types in Bloomington
Related Pages
FAQ
What salary does a retiree need in Bloomington?
A retiree needs approximately $48,417/year ($4,035/month gross) to live comfortably in Bloomington with a 5% savings rate.
How much is rent for a retiree in Bloomington?
A 1-2br senior-friendly in Bloomington costs approximately $811/month, which is the largest single expense at 29% of the total budget.
Is Bloomington affordable for a retiree?
Yes, Bloomington is 24% more affordable than the national average for a retiree.