Fairmount, IL is a small town situated in east central Illinois. With a population of just over 1,000 people, it offers a friendly, welcoming atmosphere for those who choose to call it home. The cost of living is fairly low with rent for 2 bedroom apartments averaging $760 per month and the Grocery Cost Index being 92 when compared to the US average of 100. There are plenty of local businesses and amenities located throughout Fairmount including Speedway Gas Station, Fairmount Mini Mart, Dollar General and numerous cafes and restaurants. There’s also several parks and community spaces that provide access to both outdoor activities and places to meet with friends. Despite its low population size, Fairmount has plenty of options available for everyone who visits or moves here.
Fairmount has an unemployment rate of 6.9%. The US average is 6.0%.
Fairmount has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 17.5%, which is lower than the US average of 33.5%.
Tax Rates for Fairmount
- The Sales Tax Rate for Fairmount is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Fairmount 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 Fairmount
- The average income of a Fairmount resident is $25,438 a year. The US average is $37,638 a year.
- The Median household income of a Fairmount resident is $56,719 a year. The US average is $69,021 a year.