Salary & Cost of Living in Urbana, IL
Urbana, IL: $52,856 median salary, cost of living index 86.9, $14.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$52,856
$25/hr
Cost of Living
86.9
US avg = 100
Minimum Wage
$14.00
per hour
Unemployment
4%
rate
Urbana, IL Overview
Population
38,336
Median Salary
$52,856
Average Salary
$59,199
Avg Commute
19 min
Median Home Price
$231,000
Median Rent
$943/mo
Job Growth
+1.6%
Sales Tax
6.25%
Urbana is located in Illinois with a population of 38,336. The median household salary is $52,856 per year ($25/hour), which is $6,528 below the national median of $59,384. The average commute time is 19 minutes, and the city has a job growth rate of +1.6%.
Urbana Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Urbana, IL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$41,892
$3,490.99/month · $1,611.23/biweekly · Effective Rate: 20.7%
Gross Pay
$52,856
Federal Tax
-$4,304
State Tax
-$2,616
Local Tax
$0
FICA
-$4,043
Net Pay
$41,892
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,404.67 | $52,856.00 |
| Federal Income Tax | -$358.68 | -$4,304.22 |
| Illinois State Tax (4.95%) | -$218.03 | -$2,616.37 |
| Social Security (6.2%) | -$273.09 | -$3,277.07 |
| Medicare (1.45%) | -$63.87 | -$766.41 |
| Net Take-Home Pay | $3,490.99 | $41,891.92 |
Salary Comparison: Urbana vs Other Cities
See how Urbana's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Urbana, IL | $52,856 | 86.9 | $60,824 |
| National Average | $59,384 | 100 | $59,384 |
| Saratoga Springs, UT | $52,855 | 100.4 | $52,644 |
| Tucker, GA | $52,853 | 88.7 | $59,586 |
| Brooklyn Park, MN | $52,861 | 98.8 | $53,503 |
| Norristown, PA | $52,849 | 97.3 | $54,316 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Urbana
Urbana's cost of living index is 86.9 (national average = 100). Living in Urbana is 13.099999999999994% less expensive than the national average.
Median Home Price
$231,000
Median Monthly Rent
$943
Annual Rent Cost
$11,316
Your Salary's Purchasing Power
Your $41,892 annual take-home pay in Urbana has the purchasing power of approximately $48,207 in an average-cost US area. Your $52,856 salary stretches further here than in most US cities.
Top Industries in Urbana
Urbana's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $52,856.
Salary Tips for Urbana Workers
- Your salary goes further here. Urbana has a cost of living 13.099999999999994% below the national average. A salary of $52,856 here has the purchasing power of about $60,824 in an average-cost area.
- Research top industries. Urbana's top industries include Finance, Manufacturing, Technology. Targeting roles in these sectors can help you earn above the $52,856 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Urbana, IL?
The median salary in Urbana, IL is $52,856 per year, or $25 per hour. The average salary is $59,199. This is $6,528 below the national median of $59,384.
What is the cost of living in Urbana, IL?
Urbana's cost of living index is 86.9 (national average = 100), meaning it is 13.099999999999994% less expensive compared to the national average. The median home price is $231,000 and the median monthly rent is $943.
What are the best industries in Urbana?
The top industries in Urbana, IL include Finance, Manufacturing, Technology. The city has a job growth rate of 1.6% and an unemployment rate of 4%. Workers in these industries often earn above the city's median salary of $52,856.
How does Urbana's salary compare to other cities?
Urbana's median salary of $52,856 is 11.0% below the national median of $59,384. However, when adjusted for cost of living (index: 86.9), the real purchasing power is approximately $60,824.
What is the minimum wage in Urbana, IL?
The minimum wage in Urbana, IL is $14.00 per hour. This equals approximately $29,120 per year for a full-time worker (40 hours/week). This is $6.75 above the federal minimum wage of $7.25/hour.