Bannockburn, IL is a small village located in Lake County with a unique atmosphere. It’s known for its family-friendly vibe and close-knit community. The rent for a two bedroom apartment in Bannockburn is $2,110 per month, which is significantly higher than the US average of $1,430. Additionally, the grocery cost index in Bannockburn is 104 versus 100 in the US. Major employers located in Bannockburn include the companies ADM Animal Nutrition and Advanced Laser & Micro Welding. Overall, while the cost of living may be slightly higher than other areas, many people find it to be worth it due to the close-knit feel of this charming village.
Bannockburn has an unemployment rate of 6.4%. The US average is 6.0%.
Bannockburn has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 32.8%, which is lower than the US average of 33.5%.
Tax Rates for Bannockburn
- The Sales Tax Rate for Bannockburn is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Bannockburn 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 Bannockburn
- The average income of a Bannockburn resident is $40,621 a year. The US average is $28,555 a year.
- The Median household income of a Bannockburn resident is $147,500 a year. The US average is $69,021 a year.