Payson, IL is a small town in Adams County with a population of only 1,902 people. Despite its small size, Payson has a wide range of local amenities and businesses that contribute to its thriving economy. Some of the businesses in Payson include Farmer’s State Bank, B&B Appliances, and The Reel Theater. Rent for two-bedroom homes in Payson is much lower than the average across the US at $870 compared to $1,430. Groceries are also relatively cheaper in this town with a grocery cost index of 93 compared to 100 across the US on average. This makes life in Payson more affordable for families and individuals alike.
Payson has an unemployment rate of 4.4%. The US average is 6.0%.
Payson has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 28.6%, which is lower than the US average of 33.5%.
Tax Rates for Payson
- The Sales Tax Rate for Payson is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Payson 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 Payson
- The average income of a Payson resident is $21,713 a year. The US average is $28,555 a year.
- The Median household income of a Payson resident is $63,162 a year. The US average is $69,021 a year.