Cambridge, IL is a city located in Henry County, Illinois, and offers many great amenities to its residents. It has beautiful small-town charm with access to big city conveniences. The cost of living here is relatively affordable compared to the US average. The average rent for a two bedroom apartment in Cambridge is around $960 per month, which is substantially lower than the national average of $1,430 per month. Additionally, grocery costs are quite economical with an index of 93 versus 100 in the US.
The city offers employment opportunities at several local businesses including Edward Jones Investments, Blunier Builders Inc., and Cambridge Auto Parts & Repair. There are also many other job opportunities nearby in Kewanee and Galva for those who need more options. In addition to jobs, there are plenty of recreational activities available that residents can enjoy such as fishing at Camden Lake or hiking through Hennepin Canal State Park.
Cambridge has an unemployment rate of 5.9%. The US average is 6.0%.
Cambridge has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 27.4%, which is lower than the US average of 33.5%.
Tax Rates for Cambridge
- The Sales Tax Rate for Cambridge is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Cambridge 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 Cambridge
- The average income of a Cambridge resident is $25,548 a year. The US average is $28,555 a year.
- The Median household income of a Cambridge resident is $67,361 a year. The US average is $69,021 a year.