Farmer City, IL is an ideal place for working professionals and families looking for a quiet community to call home. The 2 bedroom rent in the area is much more affordable than the national average of $1430, making it a popular option for families or individuals looking to save money. Furthermore, the grocery cost index of Farmer City, IL is 93, which is slightly lower than the national average at 100. This lower cost of living makes Farmer City a great option for those wanting to stretch their dollar further. Local businesses and services include Farmer City Bank, Aaron's Automotive Repair, Rabe Hardware & Supply Co., Cornerstone Fitness Center, local farmer’s markets and more.
Farmer City has an unemployment rate of 5.4%. The US average is 6.0%.
Farmer City has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Farmer City
- The Sales Tax Rate for Farmer City is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Farmer City 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 Farmer City
- The average income of a Farmer City resident is $24,651 a year. The US average is $28,555 a year.
- The Median household income of a Farmer City resident is $51,250 a year. The US average is $69,021 a year.