Armington, IL Economy


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Armington, IL is an attractive small town with much to offer. With a cost of living lower than the US average, it's an ideal place to live for those looking for more affordable housing and groceries. 2 bedroom rent in Armington is $960 compared to the US' average of $1,430 making it an affordable place to rent or own. The grocery cost index in Armington is 93 versus 100 in the US, further lowering total living costs. \nThe town is home to several businesses including banks such as United Community Bank, numerous restaurants, Salter's Furniture and Appliances and J & M Auto Repair. Several other useful services are available such as Armington Veterinary Clinic, H & R Block Tax Service and Quick Lube Auto Repair. With its friendly small town atmosphere and lower cost of living than most areas, Armington is a great place to call home.

Armington has an unemployment rate of 5.7%. The US average is 6.0%.

Armington has seen the job market increase by 1.4% 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 Armington
- The Sales Tax Rate for Armington is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Armington 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 Armington
- The average income of a Armington resident is $19,783 a year. The US average is $28,555 a year.
- The Median household income of a Armington resident is $43,125 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyArmington, IllinoisUnited States
  5.76
  -7.5%-6.2%
  19.4%33.5%
  6.8%6.2%
  5.0%4.6%
  $19,513$37,638
  $43,125$69,021
  $63,750$85,028
  Population by Occupation
  0.7%1.2%
  1.5%0.5%
  6.6%6.8%
  10.3%10.0%
  1.5%2.5%
  8.8%11.0%
  5.9%4.8%
  0.0%0.8%
  1.5%1.9%
  9.6%4.7%
  0.0%1.9%
  2.2%7.6%
  0.0%0.1%
  2.9%4.2%
  11.8%9.3%
  19.1%14.0%
  0.0%2.1%
  4.4%7.0%
  8.8%4.8%
  4.4%4.7%
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