Concord, IL is an ideal place to live due to its cost of living. The rent for a two bedroom apartment is $800 per month, which is significantly lower than the US average of $1,430. Additionally, the grocery cost index in Concord is 91 compared to 100 nationally. This makes it much more affordable to buy food and other necessities for everyday life.
In terms of businesses, Concord's economy is supported by a variety of local companies including Saloon On Calhoun Street, Main Street Automotive Service & Repair, First State Bank and Trust Company, and Frandale Industries. These businesses offer goods and services that are essential to the community’s well-being and provide employment opportunities for area residents.
Concord has an unemployment rate of 5.5%. The US average is 6.0%.
Concord has seen the job market decrease by -7.0% over the last year. Future job growth over the next ten years is predicted to be 17.7%, which is lower than the US average of 33.5%.
Tax Rates for Concord
- The Sales Tax Rate for Concord is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Concord 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 Concord
- The average income of a Concord resident is $23,431 a year. The US average is $37,638 a year.
- The Median household income of a Concord resident is $29,583 a year. The US average is $69,021 a year.