Forrest, IL is a great place to live. Located in Central Illinois, it is within an easy driving distance of Champaign and Bloomington-Normal, making it attractive for those seeking employment opportunities or recreational activities. Forrest has strong business presence with local companies such as Country Financial and the Oil Express providing jobs in the area. The cost of living in Forrest is also quite low compared to other areas with 2 bedroom rental prices at $840 and a Grocery Cost Index of 93 versus 100 in the US. Other advantages include a short commute time with most residents being able to get from home to work in under 20 minutes. Residents also benefit from having access to natural beauty such as parks, lakes, and outdoor recreation areas nearby.
Forrest has an unemployment rate of 5.8%. The US average is 6.0%.
Forrest has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Forrest
- The Sales Tax Rate for Forrest is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Forrest 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 Forrest
- The average income of a Forrest resident is $22,475 a year. The US average is $28,555 a year.
- The Median household income of a Forrest resident is $63,500 a year. The US average is $69,021 a year.