El Paso, IL is a small town located in Woodford County. It is known for its diverse population and vibrant culture. The cost of living in El Paso, IL is relatively low compared to other areas in the United States. The average two bedroom rent is $920, while the national average two bedroom rent is $1,430. Furthermore, the Grocery Cost Index in El Paso is 95 versus 100 in the US. There are many local businesses that contribute to the economy of El Paso such as Sprouts Farmers Market, Polo Motor Cars, State Farm Insurance and Walgreens Pharmacy. El Paso offers affordable housing and an abundance of amenities making it an ideal place to live and work.
El Paso has an unemployment rate of 4.5%. The US average is 6.0%.
El Paso has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 20.8%, which is lower than the US average of 33.5%.
Tax Rates for El Paso
- The Sales Tax Rate for El Paso is 7.3%. The US average is 7.3%.
- The Income Tax Rate for El Paso 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 El Paso
- The average income of a El Paso resident is $26,164 a year. The US average is $28,555 a year.
- The Median household income of a El Paso resident is $58,179 a year. The US average is $69,021 a year.