Assumption, IL is a small town located in Central Illinois. It is well known for its friendly atmosphere and strong sense of community. The cost of living in Assumption is much lower than the national average, with two bedroom rent at $830 compared to $1,430 US-wide. Additionally, the Grocery Cost Index in Assumption is only 92 compared to 100 nationally.
Assumption is home to numerous local businesses including Buehler Furniture & Appliance Store, Big Muddy Farms Produce Market, Assumption Floral Shop, and Reliable Motors Auto Repair. Each business has become an integral part of the Assumption community over time and they all contribute to making it such a great place to live.
Assumption has an unemployment rate of 6.3%. The US average is 6.0%.
Assumption has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 12.9%, which is lower than the US average of 33.5%.
Tax Rates for Assumption
- The Sales Tax Rate for Assumption is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Assumption 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 Assumption
- The average income of a Assumption resident is $19,209 a year. The US average is $28,555 a year.
- The Median household income of a Assumption resident is $48,690 a year. The US average is $69,021 a year.