Lily Lake, IL is a small town located in McHenry County. It is home to a variety of businesses such as Lily Lake Grocery and Hardware, R&S Automotive, and CLT Electric. The cost of living in Lily Lake is slightly higher than the national average. Rent for a two bedroom apartment averages $2,070 per month, which is around $640 more than the national median of $1,430. Additionally, grocery costs are indexed at 101 compared to 100 nationally. Despite the higher prices in Lily Lake residents benefit from its close proximity to nearby towns and cities where they can find cheaper products and services to maintain their budget.
Lily Lake has an unemployment rate of 7.1%. The US average is 6.0%.
Lily Lake has seen the job market decrease by -9.1% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Lily Lake
- The Sales Tax Rate for Lily Lake is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Lily Lake 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 Lily Lake
- The average income of a Lily Lake resident is $50,487 a year. The US average is $37,638 a year.
- The Median household income of a Lily Lake resident is $122,083 a year. The US average is $69,021 a year.