Cherry Valley, IL is a great place to live due to its cost of living. A two bedroom apartment in the area costs $900 as opposed to the US average of $1,430. The grocery cost index in Cherry Valley is 92 versus 100 in the US which means groceries are cheaper here than the national average. Popular local companies include Randall's Family Farms, River District Food Pantry, and Jaxon Brothers Construction. All in all, Cherry Valley offers amazing value for money when it comes to living expenses.
Cherry Valley has an unemployment rate of 8.1%. The US average is 6.0%.
Cherry Valley has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Cherry Valley
- The Sales Tax Rate for Cherry Valley is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Cherry Valley 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 Cherry Valley
- The average income of a Cherry Valley resident is $36,630 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Valley resident is $69,358 a year. The US average is $69,021 a year.