Central City, IL is an attractive city situated in the heart of the Midwest. It has a variety of businesses and industries, including local manufacturing companies such as Central Steel, Sumner Industries, and Morada Manufacturing Group. The cost of living in Central City is also very reasonable; for example, a two bedroom rental averages around $870 which is comparatively lower than the national average of $1,430. Additionally, grocery prices are approximately 8% lower than the US average – making it an ideal place to settle down.
Central City has an unemployment rate of 6.2%. The US average is 6.0%.
Central City has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 25.0%, which is lower than the US average of 33.5%.
Tax Rates for Central City
- The Sales Tax Rate for Central City is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Central City is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Central City
- The average income of a Central City resident is $18,574 a year. The US average is $28,555 a year.
- The Median household income of a Central City resident is $43,269 a year. The US average is $69,021 a year.