Canton, IL is a small city with a population of 9,000 people. The cost of living in Canton is lower than the national average; two bedroom rentals are $830 versus $1,430 in the US and the Grocery Cost Index is 93 versus 100 in the US. Local businesses that contribute to the economy of Canton include Walgreens Pharmacy, Pizza Hut, Walmart Supercenter, Dollar General Store and Burger King. These companies offer essential services to residents and help bring money into the city.
Canton has an unemployment rate of 6.6%. The US average is 6.0%.
Canton 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 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Canton
- The Sales Tax Rate for Canton is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Canton 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 Canton
- The average income of a Canton resident is $19,575 a year. The US average is $28,555 a year.
- The Median household income of a Canton resident is $47,682 a year. The US average is $69,021 a year.