Salary Needed to Live in Bloomington as a Retiree
A retired individual (65+) needs approximately $49,426/year to live comfortably in Bloomington, IN, including 5% savings.
Direct Answer
A retiree needs about $49,426/year to live comfortably in Bloomington, IN. The bare-minimum salary is $46,086/year, but the comfortable figure includes a 5% savings target and a monthly after-tax budget of $3,002.
The minimum scenario leaves about $2,842/mo after tax and no planned savings. The comfortable scenario uses $4,119/mo gross pay to cover expenses, taxes, and a savings buffer.
Hybrid salary estimateBLS, HUD, ACS inputsLast verified May 2026
Comfortable Salary
$49,426
with 5% savings
Bare Minimum
$46,086
$3,841/mo gross, no savings buffer
Monthly Expenses
$2,842
22% below national avg
Detailed Monthly Budget for a Retiree in Bloomington
| Expense | Bloomington | Nat'l Avg | Diff |
|---|---|---|---|
| 1-2BR Senior-Friendly Rent | $900 | $1,448 | -38% |
| Groceries | $192 | $189 | +2% |
| Utilities | $153 | $183 | -16% |
| Transportation | $198 | $211 | -6% |
| Car Insurance | $111 | $211 | -47% |
| Health Insurance | $610 | $630 | -3% |
| Medicare Supplement | $176 | $200 | -12% |
| Prescription Drugs | $132 | $150 | -12% |
| Internet + Phone | $106 | $120 | -12% |
| Recreation & Social | $176 | $200 | -12% |
| Home Maintenance | $88 | $100 | -12% |
| Total Monthly | $2,842 | $3,642 | -22% |
How We Calculated the Salary
Monthly expenses:$2,842
Target savings (5%):$160/mo
Monthly after-tax needed:$3,002
Effective tax rate:26%
Gross annual salary needed:$49,426
What Drives the Salary Number?
Housing
$900
1-2BR Senior-Friendly rent is 32% of this monthly budget.
Taxes
26%
Estimated federal plus IN state tax reserve used to convert take-home needs into gross salary.
Savings target
5%
$160/mo is reserved for savings so the salary is not just break-even.
Local index
88/100
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 $900/mo or adjust the salary target upward.
- Budget $678/mo for persona-specific costs such as Medicare Supplement and Prescription Drugs.
- Use $46,086/year as the survival floor and $49,426/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 $49,426/year ($4,119/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 $900/month, which is the largest single expense at 32% of the total budget.
Is Bloomington affordable for a retiree?
Yes, Bloomington is 22% more affordable than the national average for a retiree.