01 - Taxes
Retirement Tax Treatment
Illinois does not tax Social Security benefits, giving retirees a direct break on one of their largest income sources.
Source · Tax Foundation
8
Fact text
- The interior of Bill Murray's bed and breakfast room in the 1993 classic *Groundhog Day* was actually built inside a Cary warehouse.
- Jimmy John's sandwich empire was founded by a Cary resident, so your favorite sub has local roots.
- Jazz drummer Paul Wertico, raised in Cary, has won seven Grammy Awards, not bad for a suburb.
- In 2016, Burger King opened its very first drive-thru-only restaurant ever right here in Cary.
- The town's economy once ran on pickles, early farmers shipped them by rail to Chicago and St. Louis.
Your
Cary
Retirement Outlook — in 90 seconds
Hosted by Michael McMillan, President of Annuities.net
Every figure mentioned is drawn from the same sourced public data shown below — and the video updates as the data does.
17,926
+
Total Population
$
105,344
Median Income
$
243,400
Median Home
11
%
Age 65+
Retirement Suitability
How
Cary
ranks for retirees?
42
/ 100
A blended, sourced view of how this city ranks for retirees across tax, affordability, healthcare, and climate.
Tax
8
Affordability
96
Healthcare
50
Climate
7
Results
Cary
Suitability Breakdown
02 - Income
Annuity Rates Available Here
Fixed annuity rates reach up to
7
% on 5-year terms, with most landing between
5
% and
5
%.
Source · Cannex
96
03 - Healthcare
Hospital Access & Quality
The area has
Medicare-certified hospitals, averaging a
/5 CMS quality rating.
Source · CMS Hospital Compare
04 - Climate
Weather & Comfort
A
Cold / Snowy
climate — summers peak near
80
°F, winters dip to about
15
°F, with roughly
34
″ of snow a year.
Source · NOAA Climate Normals
Cold / Snowy
05 - Risk
Natural Disaster Risk
FEMA's overall natural-disaster risk rating for this county on the National Risk Index.
Source · FEMA National Risk Index
Relatively Moderate
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Frequently Asked Questions
Does Illinois tax Social Security income for retirees?
Illinois does not tax Social Security benefits, which can meaningfully reduce a retiree’s annual tax burden. For residents of Cary, where median household income is $105,344, this exemption can preserve a notable portion of retirement income. Always consult a tax professional to understand how your full income picture interacts with state and federal tax rules.
What is the natural disaster risk like for Cary, Illinois?
FEMA rates Cary’s county as having a Relatively Moderate overall natural-disaster risk on its National Risk Index. This is a useful data point when planning long-term housing and insurance costs in retirement. It is not the lowest risk category, so prospective retirees may want to review homeowner and flood insurance options as part of their broader financial planning.
What is the cost of housing like for retirees in Cary, IL?
The median home value in Cary is $243,400, which sits at a moderate level relative to national figures. For retirees considering whether to stay, downsize, or relocate, this price point can influence how much equity is available to fund retirement expenses. Housing costs are one of the largest variables in any retirement budget.
What are the winters like in Cary, Illinois, and how might that affect retirement planning?
Cary has a cold and snowy climate, with average winter lows of 15 degrees Fahrenheit and about 34 inches of annual snowfall. Harsh winters can raise heating costs and affect mobility for older adults. Retirees should factor in potential increases in utility bills and home maintenance expenses when estimating their annual retirement budget.
How can a guaranteed annuity help Cary residents prepare for retirement?
Cary’s median household income of $105,344 suggests many households are building real assets before retirement, and with a large wave of residents in their 50s and 60s approaching peak planning years, positioning those assets wisely matters. A multi-year guaranteed annuity locks in a fixed interest rate for a set term, so a portion of savings grows predictably regardless of market swings. That certainty can help cover essential expenses alongside Illinois’s Social Security tax exemption. Current rates change often, so check our current annuity rates page for today’s figures.