Illinois
How Far the Average Social Security Check Goes in the Largest Illinois Cities
Radoslaw Lecyk / Shutterstock.com
Commitment to Our Readers
GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Trusted by
Millions of Readers
Illinois is considered a worthy state for a few key reasons, including its bustling economy, overall solid livability scores and relative affordability, as compared with other states. But not all cities are created equal; in which does the average Social Security check stretch the furthest? The answer depends on whether you rent or own.
In a new study, GOBankingRates analyzed the largest cities in Illinois to find how far the average Social Security benefits goes. The cities are ranked to show the least expensive to most expensive cost of living for renters and homeowners.
How Far the Average Social Security Check Goes for Homeowners in 10 Illinois Cities
10. Schaumburg
- Average single-family home value: $386,380
- Number of households receiving Social Security: 26,733
- Average annual Social Security benefits among households receiving them: $26,114
- Total annual cost of living for homeowners after Social Security benefits: $2,117
- Total annual cost of living for homeowners after Social Security benefits: $25,404
9. Palatine
- Average single-family home value: $402,195
- Number of households receiving Social Security: 22,196
- Average annual Social Security benefits among households receiving them: $25,733
- Total annual cost of living for homeowners after Social Security benefits: $2,259
- Total annual cost of living for homeowners after Social Security benefits: $27,104
8. Skokie
- Average single-family home value: $412,029
- Number of households receiving Social Security: 20,490
- Average annual Social Security benefits among households receiving them: $25,776
- Total annual cost of living for homeowners after Social Security benefits: $2,316
- Total annual cost of living for homeowners after Social Security benefits: $27,796
7. Orland Park
- Average single-family home value: $414,254
- Number of households receiving Social Security: 20,521
- Average annual Social Security benefits among households receiving them: $26,368
- Total annual cost of living for homeowners after Social Security benefits: $2,351
- Total annual cost of living for homeowners after Social Security benefits: $28,210
6. Mount Prospect
- Average single-family home value: $429,714
- Number of households receiving Social Security: 18,564
- Average annual Social Security benefits among households receiving them: $24,251
- Total annual cost of living for homeowners after Social Security benefits: $2,403
- Total annual cost of living for homeowners after Social Security benefits: $28,833
5. Arlington Heights
- Average single-family home value: $487,433
- Number of households receiving Social Security: 26,043
- Average annual Social Security benefits among households receiving them: $27,125
- Total annual cost of living for homeowners after Social Security benefits: $2,722
- Total annual cost of living for homeowners after Social Security benefits: $32,668
Thanks!
4. Wheaton
- Average single-family home value: $491,201
- Number of households receiving Social Security: 16,450
- Average annual Social Security benefits among households receiving them: $26,648
- Total annual cost of living for homeowners after Social Security benefits: $2,765
- Total annual cost of living for homeowners after Social Security benefits: $33,181
3. Oak Park
- Average single-family home value: $498,614
- Number of households receiving Social Security: 19,797
- Average annual Social Security benefits among households receiving them: $28,243
- Total annual cost of living for homeowners after Social Security benefits: $2,828
- Total annual cost of living for homeowners after Social Security benefits: $33,932
2. Evanston
- Average single-family home value: $558,590
- Number of households receiving Social Security: 24,936
- Average annual Social Security benefits among households receiving them: $27,864
- Total annual cost of living for homeowners after Social Security benefits: $3,123
- Total annual cost of living for homeowners after Social Security benefits: $37,481
1. Naperville
- Average single-family home value: $597,091
- Number of households receiving Social Security: 45,151
- Average annual Social Security benefits among households receiving them: $29,855
- Total annual cost of living for homeowners after Social Security benefits: $3,377
- Total annual cost of living for homeowners after Social Security benefits: $40,526
How Far the Average Social Security Check Goes for Renters in 10 Illinois Cities
10. Tinley Park
- Average monthly rent: $2,042
- Number of households receiving Social Security: 19,751
- Average annual Social Security benefits among households receiving them: $25,255
- Total annual cost of living for renters after Social Security benefits: $2,127
- Total annual cost of living for renters after Social Security benefits: $25,524
9. Aurora
- Average monthly rent: $2,172
- Number of households receiving Social Security: 52,205
- Average annual Social Security benefits among households receiving them: $24,915
- Total annual cost of living for renters after Social Security benefits: $2,130
- Total annual cost of living for renters after Social Security benefits: $25,560
8. Wheaton
- Average monthly rent: $2,099
- Number of households receiving Social Security: 16,450
- Average annual Social Security benefits among households receiving them: $26,648
- Total annual cost of living for renters after Social Security benefits: $2,191
- Total annual cost of living for renters after Social Security benefits: $26,288
7. Chicago
- Average monthly rent: $2,122
- Number of households receiving Social Security: 912,966
- Average annual Social Security benefits among households receiving them: $20,383
- Total annual cost of living for renters after Social Security benefits: $2,220
- Total annual cost of living for renters after Social Security benefits: $26,640
6. Des Plaines
- Average monthly rent: $2,161
- Number of households receiving Social Security: 19,660
- Average annual Social Security benefits among households receiving them: $24,252
- Total annual cost of living for renters after Social Security benefits: $2,222
- Total annual cost of living for renters after Social Security benefits: $26,660
5. Naperville
- Average monthly rent: $2,154
- Number of households receiving Social Security: 45,151
- Average annual Social Security benefits among households receiving them: $29,855
- Total annual cost of living for renters after Social Security benefits: $2,281
- Total annual cost of living for renters after Social Security benefits: $27,377
4. Evanston
- Average monthly rent: $2,201
- Number of households receiving Social Security: 24,936
- Average annual Social Security benefits among households receiving them: $27,864
- Total annual cost of living for renters after Social Security benefits: $2,285
- Total annual cost of living for renters after Social Security benefits: $27,418
3. Skokie
- Average monthly rent: $2,288
- Number of households receiving Social Security: 20,490
- Average annual Social Security benefits among households receiving them: $25,776
- Total annual cost of living for renters after Social Security benefits: $2,362
- Total annual cost of living for renters after Social Security benefits: $28,346
2. Bolingbrook
- Average monthly rent: $2,454
- Number of households receiving Social Security: 20,429
- Average annual Social Security benefits among households receiving them: $26,016
- Total annual cost of living for renters after Social Security benefits: $2,454
- Total annual cost of living for renters after Social Security benefits: $29,451
1. Orland Park
- Average monthly rent: $2,463
- Number of households receiving Social Security: 20,521
- Average annual Social Security benefits among households receiving them: $26,368
- Total annual cost of living for renters after Social Security benefits: $2,560
- Total annual cost of living for renters after Social Security benefits: $30,715
Methodology. For this study, GOBankingRates analyzed the largest cities in Illinois to find how far the average Social Security benefits goes. First GOBankingRates found cities in Illinois along with the basic information for each city including; total population, population ages 65 and over, total households, and household median income all sourced from the US Census American Community Survey. In order to qualify for this study, each city had to have a population of at least 50,000 and have all data points available. Using this data the percentage of the population ages 65 and over can be calculated. The cost of living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation, and miscellaneous cost of living indexes. Using the cost of living indexes for grocery, healthcare, utilities, transportation, miscellaneous as well as the national average expenditure costs for retired residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location can be calculated. The livability index was sourced from AreaVibes for each location and included as supplemental information. The average single family home value was sourced from Zillow Home Value Index for October 2024. Using the average single family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The average rental cost can be sourced from Zillow Observed Rental Index for each city and using the expenditure costs the total cost of living for each city can be calculated. The percentage of households who receive Social Security benefits, the number of households who receive Social Security benefits, and the average number of Social Security income was all sourced from the US Census American Community Survey. The cities were sorted to show the most expensive to least expensive cost of living for renters and homeowners. All data was collected on and is up to date as of November 20th, 2024.
Source link
Illinois Senate Democrats are trying to impose limits on artificial intelligence, or AI, in the final weeks of the legislative session.
The proposed package of eight different bills would target specific areas impacted by the emerging technology, including its effects on mental health and the usage of AI in schools.
State Sen. Bill Cunningham said because Congress has not put much regulation around AI, state lawmakers feel they have to step into the void.
“Artificial intelligence, or AI, can be a powerful tool for good, but currently there are minimal guardrails in place. It’s like the wild, wild west. Illinois needs to create a roadmap for responsible innovation to prevent catastrophic risks. And that is why we are all here today,” said State Sen. Mary Edly-Allen.
Edly-Allen’s proposal, which passed out of committee Wednesday and now heads to the full Senate, aims to increase transparency from big AI companies like ChatGPT and Claude. It would require large companies to make annual reports explaining what they are doing to prevent what lawmakers call “catastrophic risks.”
If a company learns about a critical safety incident, it has to report it within 72 hours, or 24 hours if the incident poses a serious risk of harm or death.
Another bill, led by Sen. Laura Ellman, aims to address the growing number of young people turning to AI during a mental health crisis, specifically people who confide in a chatbot about their suicidal thoughts. AI companies would have to implement methods to detect self harm and refer the user to a resource, such as the suicide hotline.
Other bills try to crack down on AI being used to fix rent prices, curb someone’s data from being used for targeted ads or sold to third parties, ban teachers from using AI to grade a student’s work and cut down on bots scooping up tickets to concerts and sports.
The current legislative session is set to end on May 31, with lawmakers working to pass a host of bills before that date arrives.
IKEA announces new locations opening for 2026
IKEA revealed plans to open 10 new stores in various U.S. cities by 2026 as part of its expansion strategy.
The Chicago metro area is getting its first Dutch Bros cafe this week, with additional Illinois locations set to open later this year.
The West Coast coffee chain announced the openings in a press release Wednesday, May 13, adding details about available freebies.
Dutch Bros coming to Melrose Park
Dutch Bros will be making its Chicago suburbs debut in Melrose Park, with doors set to open Thursday, May 14, at 1931 N. Mannheim Road.
The cafe will operate from 5 a.m.-10 p.m. Sunday through Thursday and 5 a.m.-11 p.m. Friday and Saturday.
Melrose Park customers will be able to snag a free keychain with any drink purchase on opening day, while supplies last, according to the chain.
“Opening in the Chicago area has always been a dream for us at Dutch Bros, and Melrose Park is just the beginning,” Dutch Bros Local Market Lead Allie Lahti said in the release.
Where else is Dutch Bros opening locations in Illinois?
The chain also announced plans to open cafes in Rockford, New Lenox and Buffalo Grove, with locations slated to open this summer. The chain lists the Rockford location as “coming soon” to 7103 E. State St. on its website.
Meanwhile, job listings for “Broistas” at 550 W. Maple St. in New Lenox and 80 McHenry Road in Buffalo Grove are available for applicants on the site.
But that’s not all.
A spokesperson for the Village of Oak Park told NBC News Chicago the chain “is also in the process of opening a location in Oak Park” at 316 Madison St.
The village approved plans for the new location in October 2025, and the chain told NBC the cafe is still “in the very early stages.”
Peoria City Councilman Alex Carmona told the Journal Star in April that a new Dutch Bros location will be built at the busy intersection of University Street and War Memorial Drive.
Construction is set to kick off in May at 3624 N. University St., with the location slated to open in the fall.
The Peoria Journal Star reached out to Dutch Bros about the upcoming Illinois locations and will update this story accordingly if a response is provided.
List of Dutch Bros locations in Illinois
The coffee chain has five existing locations in the following Illinois cities:
CONTRIBUTING: JJ Bullock, Peoria Journal Star
The amount of state and local taxes paid here also is near the nation’s highest.
Illinoisans continue to pay the highest combined state and local tax rate in the country, according to WalletHub.
Effective state and local tax rates totaled almost 17% for a median Illinois household last year, compared with the national average of just over 11.02% and higher than No. 2 New York, at 14.95%.
The median amount of state and local taxes for an Illinois household was $12,538 last year, fourth-highest in the country. The national median was around $8,949. (These amounts use a different household measurement.)
Illinois’ burden is driven by property, sales and excise taxes that exceed national averages and those in neighboring states.
Property taxes are especially high, with an effective rate of 1.92% of the value of a typical home, more than double the national median of 0.89%.
Sales taxes are also elevated in Illinois, with a 6.25% state rate and a nearly 9% combined state and local rate on average.
High taxes were a top-two issue for 58.1% of likely Illinois voters in a recent poll. State residents aren’t waiting for lawmakers to hear their concerns — almost all of the nearly 83,000 who left Illinois in 2024 went to states with lower taxes.
In Iowa, the neighboring state with the next-highest combined state and local tax rate, the annual tax total for median household is over $3,841 less than in Illinois. Indiana and Wisconsin also impose significantly lower combined burdens.
Illinois needs to reduce its tax burden to encourage more people and businesses to stay or move here. That cannot happen without improving fiscal responsibility. Lawmakers should consider reforms such as:
- Enacting a spending cap to ensure the state’s budget grows responsibly.
- Rightsizing agency spending by eliminating waste and returning costs to sustainable levels.
- Reforming pensions to prevent retirement obligations from crowding out necessary services and driving up taxes.
-
News13 minutes agoSuspect in murder of University of Washington student surrenders to police
-
New York2 hours agoFlag With Swastika and Star of David Flown on N.Y.U. Building, Police Say
-
Los Angeles, Ca2 hours agoEarly morning Montebello fire leaves resident critically injured
-
Detroit, MI2 hours agoWhat big announcement at DPSCD Hall of Fame Gala could mean for Detroit students
-
San Francisco, CA2 hours agoCasting shade on shadows: S.F. supervisor seeks to bar using shadows to block new housing
-
Dallas, TX3 hours agoDallas Approves $180,500 for New Botham Jean Boulevard Street Signs
-
Miami, FL3 hours agoMiami residents sue over land for Trump presidential library
-
Boston, MA3 hours agoBoston has a secret society built on opium money in ‘The Society’