Forreston, IL is a small town located in Ogle County. It boasts a low cost of living, with 2 bedroom apartments renting for just $870 per month. This rate is significantly lower than the US average of $1,430 for similar accommodations. The grocery cost index in Forreston is also much lower than the national average, standing at 90 compared to 100. The town has several local businesses that have been prominent for many years. These include the Foreston State Bank, which has been around since 1859 and provides financial services to the local community. Other establishments such as Barringer's Hardware Store and Tremont Electric supply store have also been staples of Forreston’s economy for decades.
Forreston has an unemployment rate of 6.3%. The US average is 6.0%.
Forreston has seen the job market decrease by -7.0% over the last year. Future job growth over the next ten years is predicted to be 21.9%, which is lower than the US average of 33.5%.
Tax Rates for Forreston
- The Sales Tax Rate for Forreston is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Forreston 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 Forreston
- The average income of a Forreston resident is $27,631 a year. The US average is $37,638 a year.
- The Median household income of a Forreston resident is $60,648 a year. The US average is $69,021 a year.