Columbia, IL is a small town located on the east side of Illinois in Monroe County. It has a population of around 10,500 people and is known for its affordable cost of living. The average rent for a two-bedroom apartment in Columbia is $950 compared to the national average of $1,430, making it an attractive option for those looking to save money on housing. The Grocery Cost Index in Columbia is 99 which is slightly lower than the national average of 100.
Columbia has several local companies based out of town such as Fastenal Company and Precision Strip Inc. Many locals are employed by these businesses or work at nearby stores like Walmart or Kmart. In addition, there are several small businesses that contribute to the economy such as restaurants, bars and cafes. All of these factors make Columbia an ideal place to settle down with its low cost of living and great job opportunities.
Columbia has an unemployment rate of 3.3%. The US average is 6.0%.
Columbia has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Columbia
- The Sales Tax Rate for Columbia is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Columbia 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 Columbia
- The average income of a Columbia resident is $35,855 a year. The US average is $28,555 a year.
- The Median household income of a Columbia resident is $102,107 a year. The US average is $69,021 a year.