Cerro Gordo, IL is a small town located in central Illinois with a population of around 600 people. It's known for its beautiful scenery, friendly locals, and excellent quality of life. Local companies in the area include Woodland Acres Farm, Cerro Gordo Brick & Tile Company, and Cerro Gordo Feed & Grain Store. The cost of living in Cerro Gordo is considerably lower than the US average. For example, 2 bedroom rent averages $880 while it's $1,430 in other parts of the country. Additionally, the grocery cost index is 93 versus 100 in the US which shows that groceries are relatively cheaper here compared to other places around the country. This proves that Cerro Gordo is an affordable place to live with plenty to offer!
Cerro Gordo has an unemployment rate of 4.3%. The US average is 6.0%.
Cerro Gordo has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Cerro Gordo
- The Sales Tax Rate for Cerro Gordo is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Cerro Gordo 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 Cerro Gordo
- The average income of a Cerro Gordo resident is $23,459 a year. The US average is $28,555 a year.
- The Median household income of a Cerro Gordo resident is $61,364 a year. The US average is $69,021 a year.