Can I Afford to Live in Springfield vs Richmond on $120K?
Here's how a $120K/year salary plays out in both cities after taxes, rent, and core living expenses — based on Q1 2026 data.
Monthly budget breakdown
| Expense | Springfield IL | Richmond VA |
|---|---|---|
| Monthly take-home (est.) | $6,655 | $6,575 |
| 1BR rent | $1,000 | $1,600 |
| Groceries (est.) | $357 | $369 |
| Transport (est.) | $48 | $70 |
| Utilities | $155 | $155 |
| Internet | $58 | $60 |
| Left after essentials | $5,037/month | $4,321/month |
Frequently asked questions
Is $120K a good salary in Springfield?
At $120K/year in Springfield, your estimated monthly take-home is $6,655. With 1BR rent around $1,000/month, rent takes up 15% of your take-home. That's considered very comfortable.
Is $120K a good salary in Richmond?
At $120K/year in Richmond, your estimated monthly take-home is $6,575. With 1BR rent around $1,600/month, rent takes up 24% of your take-home. That's considered comfortable.
Which city is more affordable on a $120K salary?
Springfield leaves you with more money after core expenses — $5,037/month vs $4,321/month in Richmond.
Can I afford to live alone in Springfield on $120K?
Yes. At $120K in Springfield, rent takes 15% of your take-home, leaving $5,037/month after essentials. Most financial planners recommend keeping rent below 30%.
See the full cost-of-living comparison
Rent, groceries, taxes, transportation, and more — side by side.
Take-home estimates use simplified federal/state brackets and do not account for pre-tax deductions, 401(k), or local taxes. Data: Zillow, BLS, Numbeo · Q1 2026 · For general guidance only