Hanaford, IL is a small town with an estimated population of 2,000 people. Located in the northeastern part of the state, it offers affordable housing and cost of living. The average two-bedroom rent is $690 per month while its grocery cost index is 90 compared to 100 in the US. Despite its small size, the town boasts of several local businesses including the popular Hanaford Coffee Shop and Bar, Carpet Emporium and Home Improvement Center, and Hanaford Sporting Goods Store. These businesses provide employment opportunities for residents as well as attract customers from neighboring towns. Other services available here include a library, post office and hospital.
Hanaford has an unemployment rate of 7.2%. The US average is 6.0%.
Hanaford has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Hanaford
- The Sales Tax Rate for Hanaford is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Hanaford 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 Hanaford
- The average income of a Hanaford resident is $22,081 a year. The US average is $28,555 a year.
- The Median household income of a Hanaford resident is $51,250 a year. The US average is $69,021 a year.