Bowen, IL Economy


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Bowen, IL is a small town located in the United States with an estimated population of around 1,000 people. The rental rate for a 2 bedroom apartment is quite reasonable at $690 per month compared to the US average of $1,430. The cost of living in Bowen is also lower than other parts of the country due to the Grocery Cost Index which is 90 versus 100 in the US.
The local economy consists mostly of agricultural production and farming. Some of the main employers in Bowen include: Bigg's Farm Supply, Green Giant Fresh, and Round Rock Produce. These are all family-owned businesses that have been operating for multiple generations to provide essential goods and services to the community.

Bowen has an unemployment rate of 5.3%. The US average is 6.0%.

Bowen has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.

Tax Rates for Bowen
- The Sales Tax Rate for Bowen is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Bowen 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 Bowen
- The average income of a Bowen resident is $17,459 a year. The US average is $28,555 a year.
- The Median household income of a Bowen resident is $63,571 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyBowen, IllinoisUnited States
  5.36
  -6.5%-6.2%
  17.2%33.5%
  6.3%6.2%
  5.0%4.6%
  $21,378$37,638
  $63,571$69,021
  $65,750$85,028
  Population by Occupation
  7.6%1.2%
  0.0%0.5%
  3.3%6.8%
  15.6%10.0%
  11.9%2.5%
  18.5%11.0%
  3.3%4.8%
  0.0%0.8%
  3.0%1.9%
  2.0%4.7%
  0.0%1.9%
  0.3%7.6%
  0.0%0.1%
  3.0%4.2%
  6.0%9.3%
  17.6%14.0%
  0.0%2.1%
  1.3%7.0%
  6.0%4.8%
  0.7%4.7%
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