Elk Grove Village, IL is a bustling community located in the northwest suburbs of Chicago. The city is known for its business-friendly environment and lower-than-average living costs. The average two bedroom rental rate in Elk Grove Village, IL is $1,530 compared to the national average of $1,430, making it a great place for families to call home. Additionally, the grocery cost index in Elk Grove Village is 98 compared to the US average of 100, making food more affordable than most other places.
This vibrant city boasts numerous businesses and services that benefit both residents and visitors alike. Major employers in the area include Rotary International Headquarters, Rainbo Baking Company, Business Resource Group Inc., Falcon Packaging Solutions LLC., American Airlines and M&M Mars. Popular local stores include Walmart Supercenter, Aldi Grocery Store and Sam's Club. In addition to retail outlets there are plenty of restaurants such as Chick-fil-A, Applebee's Neighborhood Grill & Bar and McAlister's Deli. Elk Grove Village also contains various recreation centers like Busse Woods Forest Preserve, Pirates Cove Children’s Theme Park and Chuck E Cheese’s for family fun!
Elk Grove Village has an unemployment rate of 5.7%. The US average is 6.0%.
Elk Grove Village has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Elk Grove Village
- The Sales Tax Rate for Elk Grove Village is 10.0%. The US average is 7.3%.
- The Income Tax Rate for Elk Grove Village 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 Elk Grove Village
- The average income of a Elk Grove Village resident is $33,423 a year. The US average is $28,555 a year.
- The Median household income of a Elk Grove Village resident is $89,187 a year. The US average is $69,021 a year.