Hoffman, IL is an ideal place to live for those looking for a more economical lifestyle. With the cost of a two-bedroom rental unit at $860 compared to the US average of $1,430, Hoffman is a great option for those looking to save. Additionally, the grocery cost index in Hoffman is 93 compared to the US average of 100, further making it appealing for those with budget constraints. Some local companies that would be beneficial to renters include Great Lakes Audio Visuals; Kann Manufacturing Company; and Thorson Industries Inc. All these businesses provide goods and services that can make living in Hoffman even more convenient and comfortable.
Hoffman has an unemployment rate of 3.7%. The US average is 6.0%.
Hoffman has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 32.6%, which is lower than the US average of 33.5%.
Tax Rates for Hoffman
- The Sales Tax Rate for Hoffman is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Hoffman 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 Hoffman
- The average income of a Hoffman resident is $23,563 a year. The US average is $28,555 a year.
- The Median household income of a Hoffman resident is $57,500 a year. The US average is $69,021 a year.