Western Springs, IL is a bustling suburban village located in Cook County. It's one of the oldest communities in the county and has been around since 1887. The village offers many activities for its residents, including shopping centers, restaurants, parks, historical sites, and more. Additionally, it is home to several businesses such as Western Springs Bank & Trust, Kostner Dental Care, and First Midwest Bank. These businesses provide local employment opportunities and add to the dynamic atmosphere of Western Springs.
The rent for two-bedroom homes in Western Springs is $2,180 per month which is significantly higher than the US average of $1,430 per month. Similarly, the grocery cost index in Western Springs sits at 105 versus 100 for most other areas of the US. This can be attributed to greater demand for rentals due to its desirable location as well as higher costs of goods due to local taxes and other fees. Ultimately this makes living expenses slightly higher than elsewhere but still a very attractive option for prospective residents looking to find a safe neighborhood with plenty of amenities nearby.
Western Springs has an unemployment rate of 8.4%. The US average is 6.0%.
Western Springs has seen the job market decrease by -9.4% 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 Western Springs
- The Sales Tax Rate for Western Springs is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Western Springs 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 Western Springs
- The average income of a Western Springs resident is $86,977 a year. The US average is $37,638 a year.
- The Median household income of a Western Springs resident is $196,638 a year. The US average is $69,021 a year.