Barrington, IL is a beautiful town located in the northern suburbs of Chicago. With its top-rated schools and easy access to downtown Chicago, Barrington has become an attractive destination for families and businesses alike. The cost of living is typically higher than the US average due to the quality amenities that Barrington provides. For example, a two bedroom apartment will rent for $2,140 compared to the nationwide average of $1,430. The grocery cost index in Barrington is also higher than the national average, at 104 versus 100. Some local companies in Barrington include Panera Bread, Beecher's Cheese Market, and Barrington Bank & Trust Co. All in all, Barrington is an excellent place to live with plenty of opportunity for residents and businesses alike.
Barrington has an unemployment rate of 8.4%. The US average is 6.0%.
Barrington 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 25.8%, which is lower than the US average of 33.5%.
Tax Rates for Barrington
- The Sales Tax Rate for Barrington is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Barrington 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 Barrington
- The average income of a Barrington resident is $56,426 a year. The US average is $28,555 a year.
- The Median household income of a Barrington resident is $126,250 a year. The US average is $69,021 a year.