Ashkum, IL is a small town located in Kankakee County. It is a community known for its affordability and close-knit atmosphere. The cost of living is quite low, with two bedroom rental costs averaging $770 and the Grocery Cost Index being 94 compared to the rest of the US at 100. The town's economy relies heavily on agriculture, with many local farms producing corn, soybeans and wheat. There are also several local businesses including Ashkum Farms, Ashkum Honey Farm, W-L Dairy Supply Inc., Timber Creek Machine and Fabrication Inc., and Klinger Brothers Heating & Air Conditioning Co. These businesses provide employment opportunities for residents living in Ashkum.
Ashkum has an unemployment rate of 5.6%. The US average is 6.0%.
Ashkum has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 27.3%, which is lower than the US average of 33.5%.
Tax Rates for Ashkum
- The Sales Tax Rate for Ashkum is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Ashkum 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 Ashkum
- The average income of a Ashkum resident is $29,145 a year. The US average is $28,555 a year.
- The Median household income of a Ashkum resident is $73,594 a year. The US average is $69,021 a year.