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Retirement Planning in Gallatin County, IL

What does it take to retire comfortably in Gallatin County? Here are the numbers.

Median Income

$51,868

Retirement Income (80%)

$41,494

Est. Nest Egg Needed

$583,500

Cost of Living Index

80

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$41,494
Est. Social Security$18,154
Annual Income Gap$23,340

Housing Costs

Median Rent$532/mo
Annual Housing$6,384
Property Tax Rate1.4%
Median Home Value$81,000

About Gallatin County, Illinois

Gallatin County in Illinois has a median household income of $51,868 and a homeownership rate of 76.7%. Using the 4% rule, retirees in this county would need approximately $583,500 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in Illinois

Cook CountyDuPage CountyLake CountyWill CountyKane CountyMcHenry CountyWinnebago CountyMadison County

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.