Colona, IL is a small city located in Henry County with a population of about 3,000 people. It is known for its affordable living costs with the median 2 bedroom rent being $890 per month compared to the US median of $1,430. Grocery costs are also cheaper than the national average index of 100; Colona’s index is 94. The city has several local stores and businesses including Colona Car Care Center, Angelic Hair Salon & Spa, and China One Restaurant. There are also many attractions for residents to enjoy such as the Village Square Park and Bowling Alley. Other nearby attractions include the Rock Island Historical Society Museum and Wadsworth Lake Park.
Colona has an unemployment rate of 5.9%. The US average is 6.0%.
Colona 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 Colona
- The Sales Tax Rate for Colona is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Colona 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 Colona
- The average income of a Colona resident is $23,163 a year. The US average is $28,555 a year.
- The Median household income of a Colona resident is $68,657 a year. The US average is $69,021 a year.