Discretionary Income in Elgin, IL in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Elgin, IL is ranked 180th out of the top 333 most populated cities in the U.S. for having the highest discretionary income. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Elgin, IL
Gross Salary
$8,333
Taxes
$1,601
Cost of Living
$3,758
Discretionary Income
$2,975
With a gross annual salary of $100,000 in Elgin, IL, you would need to deduct approximately $1,601 per month for taxes. Given that the average cost of living in Elgin is $3,758, you would have around $2,975 remaining in your pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Elgin, IL, regardless of household composition or number of income earners.
Salary and Discretionary Income Per Gross Salary Level in Elgin, IL in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Elgin, IL |
|---|---|
| $30,000 | -$1,525 |
| $40,000 | -$833 |
| $50,000 | -$140 |
| $60,000 | $540 |
| $70,000 | $1,148 |
| $80,000 | $1,757 |
| $90,000 | $2,366 |
| $100,000 | $2,975 |
| $110,000 | $3,582 |
| $120,000 | $4,174 |
| $130,000 | $4,766 |
| $140,000 | $5,358 |
| $150,000 | $5,951 |
| $175,000 | $7,431 |
| $200,000 | $8,884 |
| $250,000 | $11,499 |
| $300,000 | $14,001 |
| $350,000 | $16,503 |
| $400,000 | $19,005 |
| $450,000 | $21,507 |
| $500,000 | $24,009 |
Discretionary Income in Elgin, IL in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Elgin, IL is ranked 189th out of the top 333 most populated cities in the U.S. for having the highest discretionary income for singles. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Elgin, IL
Gross Salary
$8,333
Taxes
$1,601
Cost of Living
$2,508
Discretionary Income
$4,224
With a gross annual salary of $100,000 in Elgin, IL, a single person would need to deduct approximately $1,601 per month for taxes. Considering the average cost of living in Elgin is $2,508, singles would have around $4,224 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Elgin, IL, assuming that the gross salary is earned by a single person.
Salary and Discretionary Income Per Gross Salary Level in Elgin, IL in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Elgin, IL |
|---|---|
| $30,000 | -$275 |
| $40,000 | $417 |
| $50,000 | $1,109 |
| $60,000 | $1,789 |
| $70,000 | $2,398 |
| $80,000 | $3,007 |
| $90,000 | $3,615 |
| $100,000 | $4,224 |
| $110,000 | $4,832 |
| $120,000 | $5,424 |
| $130,000 | $6,016 |
| $140,000 | $6,608 |
| $150,000 | $7,200 |
| $175,000 | $8,680 |
| $200,000 | $10,133 |
| $250,000 | $12,748 |
| $300,000 | $15,250 |
| $350,000 | $17,752 |
| $400,000 | $20,254 |
| $450,000 | $22,757 |
| $500,000 | $25,259 |
Discretionary Income in Elgin, IL in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Elgin, IL is ranked 188th out of the top 333 most populated cities in the U.S. for having the highest discretionary income for couples. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Elgin, IL
Gross Salary
$8,333
Taxes
$1,601
Cost of Living
$3,773
Discretionary Income
$2,959
With a gross annual salary of $100,000 in Elgin, IL, a couple would need to deduct approximately $1,601 per month for taxes. Considering the average cost of living in Elgin is $3,773, couples would have around $2,959 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Elgin, IL, assuming that the gross salary is earned by a couple.
Salary and Discretionary Income Per Gross Salary Level in Elgin, IL in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Elgin, IL |
|---|---|
| $30,000 | -$1,540 |
| $40,000 | -$848 |
| $50,000 | -$156 |
| $60,000 | $524 |
| $70,000 | $1,133 |
| $80,000 | $1,742 |
| $90,000 | $2,350 |
| $100,000 | $2,959 |
| $110,000 | $3,567 |
| $120,000 | $4,159 |
| $130,000 | $4,751 |
| $140,000 | $5,343 |
| $150,000 | $5,935 |
| $175,000 | $7,415 |
| $200,000 | $8,868 |
| $250,000 | $11,483 |
| $300,000 | $13,985 |
| $350,000 | $16,487 |
| $400,000 | $18,924 |
| $450,000 | $21,343 |
| $500,000 | $23,761 |
Discretionary Income in Elgin, IL in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Elgin, IL is ranked 173rd out of the top 333 most populated cities in the U.S. for having the highest discretionary income for single parents. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Elgin, IL
Gross Salary
$8,333
Taxes
$1,340
Cost of Living
$3,616
Discretionary Income
$3,378
With a gross annual salary of $100,000 in Elgin, IL, a single parent would need to deduct approximately $1,340 per month for taxes. Considering the average cost of living in Elgin is $3,616, single parents would have around $3,378 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Elgin, IL, assuming that the gross salary is earned by a single parent.
Salary and Discretionary Income Per Gross Salary Level in Elgin, IL in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Elgin, IL |
|---|---|
| $30,000 | -$1,317 |
| $40,000 | -$614 |
| $50,000 | $78 |
| $60,000 | $770 |
| $70,000 | $1,463 |
| $80,000 | $2,155 |
| $90,000 | $2,769 |
| $100,000 | $3,378 |
| $110,000 | $3,986 |
| $120,000 | $4,589 |
| $130,000 | $5,181 |
| $140,000 | $5,773 |
| $150,000 | $6,365 |
| $175,000 | $7,845 |
| $200,000 | $9,325 |
| $250,000 | $11,972 |
| $300,000 | $14,479 |
| $350,000 | $16,981 |
| $400,000 | $19,483 |
| $450,000 | $21,985 |
| $500,000 | $24,487 |
Discretionary Income in Elgin, IL in 2024
Discretionary income is the money that’s left over after taxes and cost of living expenses, and you can have more of it – if you know where to live and work. Discretionary Income = Gross Salary – Taxes – Cost of Living
Elgin, IL is ranked 175th out of the top 333 most populated cities in the U.S. for having the highest discretionary income for families. Therefore, it is considered as one of the cities, where on average per month, you will have less money left in your pocket compared to other cities.
Monthly Discretionary Income for Renters in Elgin, IL
Gross Salary
$8,333
Taxes
$1,099
Cost of Living
$5,133
Discretionary Income
$2,101
With a gross annual salary of $100,000 in Elgin, IL, a family would need to deduct approximately $1,099 per month for taxes. Considering the average cost of living in Elgin is $5,133, families would have around $2,101 remaining in their pocket each month after expenses.
The following table calculates the expected Discretionary Income for each salary bracket in Elgin, IL, assuming that the gross salary is earned by the family head(s).
Salary and Discretionary Income Per Gross Salary Level in Elgin, IL in 2024
| Gross Annual Salary | Estimated Monthly Discretionary Income in Elgin, IL |
|---|---|
| $30,000 | -$2,776 |
| $40,000 | -$2,067 |
| $50,000 | -$1,359 |
| $60,000 | -$667 |
| $70,000 | $25 |
| $80,000 | $717 |
| $90,000 | $1,409 |
| $100,000 | $2,101 |
| $110,000 | $2,794 |
| $120,000 | $3,462 |
| $130,000 | $4,071 |
| $140,000 | $4,679 |
| $150,000 | $5,288 |
| $175,000 | $6,810 |
| $200,000 | $8,332 |
| $250,000 | $11,323 |
| $300,000 | $14,283 |
| $350,000 | $17,244 |
| $400,000 | $20,150 |
| $450,000 | $22,777 |
| $500,000 | $25,380 |
The assessments presented on this website, including those related to crime, safety, cost of living, and other location characteristics (e.g., states, cities, towns, villages, neighborhoods, areas, landmarks), are based on various sources and our internal research methods. These assessments are not guaranteed to be accurate or complete and should not be used as the sole basis for making any decisions.