Living Wage Calculator Illinois

What is the Living Wage in Illinois?

The living wage is the minimum hourly wage needed to provide a decent standard of living for a single person in a given area. In Illinois, the living wage is determined by the Illinois Living Wage Act, which was established to ensure that workers earn enough to cover basic needs including housing, food, transportation, and other essential expenses.

Basic Needs Approach

The living wage in Illinois is calculated using the basic needs approach, which considers the costs of essential goods and services. The formula used is:

For a single person in Illinois, the basic needs typically include:

• Food: $300 per month
• Transportation: $150 per month
• Clothing: $100 per month
• Healthcare: $100 per month
• Childcare: $0 per month (for single person)
• Other essentials: $150 per month

The housing cost is calculated separately based on the type of housing (rent or own) and the location within Illinois.

How to Calculate the Living Wage

Calculating the living wage involves several steps, including determining the cost of basic needs, accounting for housing expenses, and calculating the hourly wage based on the number of hours worked per year.

Step 1: Determine Basic Needs Costs

Start by calculating the total monthly cost of basic needs. For a single person in Illinois, this typically includes food, transportation, clothing, healthcare, and other essentials.

Step 2: Calculate Housing Costs

Next, determine the housing cost based on whether the person is renting or owning a home. The housing cost is then added to the basic needs costs to get the total monthly cost.

Step 3: Calculate Annual Hours Worked

Determine the number of hours worked per week and the number of weeks worked per year. For full-time work, this is typically 40 hours per week and 52 weeks per year.

Step 4: Compute Hourly Wage

Finally, divide the total annual cost by the number of hours worked per year to get the hourly living wage.

Illinois-Specific Living Wage Details

The living wage in Illinois is higher than the federal living wage due to the higher cost of living in the state. The Illinois Living Wage Act sets the minimum wage at $12.00 per hour for single workers and $15.00 per hour for families of four.

Living Wage by County

The living wage varies by county in Illinois due to differences in the cost of living. The following table shows the living wage for single workers in different Illinois counties:

Family Living Wage

The living wage for families of four in Illinois is $15.00 per hour. This is calculated based on the costs of housing, food, transportation, healthcare, and other essentials for a family of four.

Comparison with Federal Living Wage

The federal living wage is set by the U.S. Department of Labor and is based on the cost of living in the Washington, D.C. metropolitan area. The federal living wage for a single worker is $12.50 per hour.

Key Differences

The living wage in Illinois is generally higher than the federal living wage due to the higher cost of living in the state. The following table compares the living wage in Illinois with the federal living wage:

While the federal living wage is higher for families of four, the living wage in Illinois is generally higher for single workers due to the higher cost of living in the state.