Illinois

How Far the Average Social Security Check Goes in the Largest Illinois Cities

Published

1 year ago

December 8, 2024

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How Far the Average Social Security Check Goes in the Largest Illinois Cities

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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

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.

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Illinois

Fire sweeps through apartment building, displaces residents in Woodridge, Illinois

Published

41 minutes ago

January 28, 2026

Press Room

Fire sweeps through apartment building, displaces residents in Woodridge, Illinois

Josh Hernandez, Liz Miller

January 28, 2026 / 7:31 AM CST
/ CBS Chicago

People ran out of their homes into the cold overnight Tuesday into Wednesday after a fire broke out in an apartment building in the western Chicago suburb of Woodridge.

The fire broke out in a multi-family building at 7900 Janes Ave., near Forest Drive.

Smoke was seen billowing as firefighters stood on the roof.

One firefighter suffered minor injuries fighting the blaze, according to the Lisle-Woodridge Fire Protection District.

Fire officials said several units have major damage, and the families who reside in them have been displaced.

The American Red Cross was assisting the displaced residents Wednesday morning.

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Illinois

Illinois Racing Board suspends Hawthorne Race Course’s license, putting future in jeopardy

Published

13 hours ago

January 27, 2026

Press Room

Illinois Racing Board suspends Hawthorne Race Course’s license, putting future in jeopardy

STICKNEY, Ill. (WLS) — The future of racing at Hawthorne Race Course in south suburban Stickney is in jeopardy.

The Illinois Racing Board suspended its harnesses racing license. In a letter sent Monday to Hawthorne’s president and general manager, the state agency said the track failed to prove its financial integrity.

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Jeff Davis, president of the Illinois Harness Horsemen’s Association, says the past two months have been rough.

“We don’t really know details, but what we do know is people have not been paid since before Christmas,” Davis said.

Davis says checks started bouncing, which led to races being canceled over the past few weekends.

SEE ALSO | Hawthorne Race Course not offering window betting for Kentucky Derby amid Churchill Downs dispute

“Six weeks ago, they couldn’t cash a $400 check to a trainer,” Davis said.

The remaining three races left this season are unlikely unless Hawthorne owners can prove financial stability. Hawthorne officials have not returned messages seeking comment on the issue. But it is just one of many issues facing the track. There has been an effort for nearly six years to get an approved casino up and running, but the owners cannot find a partner.

“Horse racing in every state now only survives because it has additional forms of revenue from casinos, slot machines,” said Paulick Report Publisher Ray Paulick.

Hawthorne is the only racetrack in the Chicago area and has the right to veto another one built within 35 miles. But those in the industry hope a bill before the state legislature will repeal that.

“The harness horsemen are asking the state legislature to take away that exclusivity, because Hawthorne isn’t in a position to build another track if they can’t keep the one they have going,” Paulick said.

READ MORE | Hawthorne Race Course, Illinois’ oldest horse racing track poised to be first with casino

In the meantime, Davis says he hopes the season can be salvaged.

“It really is sad. It’s a 100-year-old business. They’ve been trying, but I don’t know if they have the ability to actually get done what they’ve been awarded to do,” Davis said.

The Illinois Racing Board will hold its monthly meeting on Wednesday, and Hawthorne’s owner is scheduled to give an update on the track.