Salary Needed to Live in Champaign as a Retiree
A retired individual (65+) needs approximately $17,670/year to live comfortably in Champaign, IL — including 5% savings.
Comfortable Salary
$17,670
with 5% savings
Bare Minimum
$16,476
no savings buffer
Monthly Expenses
$1,016
16% below national avg
Detailed Monthly Budget for a Retiree in Champaign
| Expense | Champaign | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $109 | $121 | -10% |
| 🛒 Groceries | $13 | $16 | -19% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $15 | $18 | -17% |
| 🛡️ Car Insurance | $159 | $211 | -25% |
| 🏥 Health Insurance | $45 | $53 | -15% |
| Medicare Supplement | $172 | $200 | -14% |
| Prescription Drugs | $129 | $150 | -14% |
| Internet + Phone | $103 | $120 | -14% |
| Recreation & Social | $172 | $200 | -14% |
| Home Maintenance | $86 | $100 | -14% |
| Total Monthly | $1,016 | $1,204 | -16% |
How We Calculated the Salary
Monthly expenses:$1,016
Target savings (5%):$57/mo
Monthly after-tax needed:$1,073
Effective tax rate:26%
Gross annual salary needed:$17,670
Other Household Types in Champaign
Related Pages
FAQ
What salary does a retiree need in Champaign?
A retiree needs approximately $17,670/year ($1,473/month gross) to live comfortably in Champaign with a 5% savings rate.
How much is rent for a retiree in Champaign?
A 1-2br senior-friendly in Champaign costs approximately $109/month, which is the largest single expense at 11% of the total budget.
Is Champaign affordable for a retiree?
Yes, Champaign is 16% more affordable than the national average for a retiree.