Knoxville, IL is a small city located in Illinois with a charming atmosphere and plenty of amenities for residents. It has a thriving economy thanks to local businesses such as Jody's Grocery Store, Thompson's Auto Parts, and G&P Restaurant Supply. The cost of living is affordable, with two-bedroom rental prices roughly $790 per month compared to the US average of $1,430. Additionally, the grocery cost index in Knoxville is 93 versus the national average index of 100. Knoxville offers plenty of events for its citizens to enjoy year-round including festivals, parades, concerts, and more. All in all, Knoxville offers an affordable yet enjoyable way of life for those who call it home.
Knoxville has an unemployment rate of 7.5%. The US average is 6.0%.
Knoxville has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 16.6%, which is lower than the US average of 33.5%.
Tax Rates for Knoxville
- The Sales Tax Rate for Knoxville is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Knoxville 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 Knoxville
- The average income of a Knoxville resident is $28,289 a year. The US average is $37,638 a year.
- The Median household income of a Knoxville resident is $67,750 a year. The US average is $69,021 a year.