Cost of Living in Springfield, IL

How far does a $70,000 salary go in Springfield? 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 ($1,203/month based on HUD Fair Market Rents for the Springfield metro area) and the estimated annual take-home is $44,858, or roughly $3,738 per month for everything else: food, transportation, savings, and discretionary spending.

The Springfield metro has a cost of living index of 65.2 according to the Bureau of Economic Analysis Regional Price Parities (national average = 100). At 35% below the national average, Springfield 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 Springfield represents approximately 21% of gross income. That falls comfortably below the 30% rent-burden guideline, a healthy position for building savings.