Farmington, IL is a small town in central Illinois. It is known for its low cost of living and friendly community. The median rent for a two bedroom apartment in Farmington is $940, which is substantially lower than the national average of $1,430. Additionally, the Grocery Cost Index in Farmington is 93 versus 100 in the US, making it an affordable place to live for families. There are several local companies located in Farmington such as Main Street Saloon & Grill, Dwight Food Mart, Turner Automotive Group, and D&D Auto Body & Glass. These businesses offer great services to local residents and help to keep the town vibrant.
Farmington has an unemployment rate of 6.6%. The US average is 6.0%.
Farmington has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Farmington
- The Sales Tax Rate for Farmington is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Farmington 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 Farmington
- The average income of a Farmington resident is $21,681 a year. The US average is $28,555 a year.
- The Median household income of a Farmington resident is $53,563 a year. The US average is $69,021 a year.