Salary Needed to Live in Joliet as a Retiree

A retired individual (65+) needs approximately $19,113/year to live comfortably in Joliet, IL — including 5% savings.

Comfortable Salary
$19,113
with 5% savings
Bare Minimum
$17,822
no savings buffer
Monthly Expenses
$1,099
9% below national avg

Detailed Monthly Budget for a Retiree in Joliet

ExpenseJolietNat'l AvgDiff
🏠 1-2BR Senior-Friendly Rent$92$121-24%
🛒 Groceries$15$16-6%
⚡ Utilities$15$150%
🚗 Transportation$19$18+6%
🛡️ Car Insurance$168$211-20%
🏥 Health Insurance$51$53-4%
Medicare Supplement$192$200-4%
Prescription Drugs$144$150-4%
Internet + Phone$115$120-4%
Recreation & Social$192$200-4%
Home Maintenance$96$100-4%
Total Monthly$1,099$1,204-9%

How We Calculated the Salary

Monthly expenses:$1,099
Target savings (5%):$62/mo
Monthly after-tax needed:$1,161
Effective tax rate:26%

Gross annual salary needed:$19,113

Other Household Types in Joliet

Single Person
$18,413/yr
$982/mo expenses
Couple (No Kids)
$25,742/yr
$1,330/mo expenses
Family with Kids
$55,566/yr
$2,732/mo expenses

Related Pages

Living Alone in JolietCity OverviewAfford on $75K?Afford on $100K?Cost of Living

FAQ

What salary does a retiree need in Joliet?
A retiree needs approximately $19,113/year ($1,593/month gross) to live comfortably in Joliet with a 5% savings rate.
How much is rent for a retiree in Joliet?
A 1-2br senior-friendly in Joliet costs approximately $92/month, which is the largest single expense at 8% of the total budget.
Is Joliet affordable for a retiree?
Yes, Joliet is 9% more affordable than the national average for a retiree.
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