Lincoln, IL is a vibrant city in Logan County with plenty of amenities to keep residents busy. The cost of living is much lower than the national average, making it an attractive option for those who are trying to save money. Rent for a two bedroom apartment is only $860 compared to $1,430 across the US. The Grocery Cost Index in Lincoln is 92, versus 100 in the US. There are many great local companies to choose from such as Target Distribution Center and Al Becker Manufacturing Company. In addition, residents of Lincoln have access to activities such as golfing at Lincoln Elks Country Club or attending events at Postville Courthouse State Historic Site. With its lower cost of living and abundance of activities, Lincoln proves itself to be an excellent place to live.
Lincoln has an unemployment rate of 5.2%. The US average is 6.0%.
Lincoln has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Lincoln
- The Sales Tax Rate for Lincoln is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Lincoln 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 Lincoln
- The average income of a Lincoln resident is $23,669 a year. The US average is $28,555 a year.
- The Median household income of a Lincoln resident is $51,915 a year. The US average is $69,021 a year.