Spring Grove, IL is a lively city located in the north of Illinois. It provides many opportunities for people to enjoy activities and explore its diverse culture. The cost of living in Spring Grove is affordable compared to other cities in the US, with an average 2 bedroom rent of $1,620 versus the US average of $1,430 and a Grocery Cost Index of 98 as opposed to the 100 found across the country. There are several local companies operating within the area such as Rembrandt Foods Inc., FSG Electric LLC, Applewood Farms Inc., and Solar-Ray Inc. All these businesses provide employment opportunities for members of the community as well as adding to its economic development. In conclusion, Spring Grove is an attractive place to live due to its lower costs and various amenities it has on offer such as different companies and recreational activities.
Spring Grove has an unemployment rate of 5.9%. The US average is 6.0%.
Spring Grove has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 27.6%, which is lower than the US average of 33.5%.
Tax Rates for Spring Grove
- The Sales Tax Rate for Spring Grove is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Spring Grove 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 Spring Grove
- The average income of a Spring Grove resident is $40,053 a year. The US average is $28,555 a year.
- The Median household income of a Spring Grove resident is $131,735 a year. The US average is $69,021 a year.