Morton, IL is a small village in central Illinois with a population of about 16,000 people. It is known for its unique downtown area that has preserved it's old-time charm. It provides a picturesque backdrop for the many local businesses and attractions. Some of the notable establishments include Kracklauer's Bakery & Restaurant, Loca Mocha Cafe, and Valley Farms Produce. The cost of living in Morton is quite reasonable compared to other areas as it has an average rent of $1,050 for two-bedroom apartments and a Grocery Cost Index of 98 versus 100 in the US. This makes it an ideal place to live for those looking to enjoy small town life while still having access to all the amenities they would need.
Morton has an unemployment rate of 5.7%. The US average is 6.0%.
Morton has seen the job market decrease by -7.5% over the last year. Future job growth over the next ten years is predicted to be 19.4%, which is lower than the US average of 33.5%.
Tax Rates for Morton
- The Sales Tax Rate for Morton is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Morton 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 Morton
- The average income of a Morton resident is $43,538 a year. The US average is $37,638 a year.
- The Median household income of a Morton resident is $81,792 a year. The US average is $69,021 a year.