Cost of Living in Champaign-Urbana, IL

How far does a $70,000 salary go in Champaign-Urbana? Estimated income taxes on that gross salary total approximately $10,706 per year — combining federal taxes with Illinois's state income tax. Subtract rent for a 2-bedroom apartment ($1,122/month based on HUD Fair Market Rents for the Champaign-Urbana metro area) and the estimated annual take-home is $45,830, or roughly $3,819 per month for everything else: food, transportation, savings, and discretionary spending.

The Champaign-Urbana metro has a cost of living index of 67.8 according to the Bureau of Economic Analysis Regional Price Parities (national average = 100). At 32% below the national average, Champaign-Urbana is a genuinely affordable metro where everyday expenses stretch further than in most cities.

At a $70,000 salary, the estimated 2-bedroom rent in Champaign-Urbana represents approximately 19% of gross income. That is well within the 30% rule of thumb that financial advisors typically recommend, leaving significant room for savings and discretionary spending.