Hoffman Estates, IL is a great place to live for those seeking an affordable lifestyle. The cost of rent for a two bedroom apartment is only $1,840 which is lower than the US average of $1,430. Grocery costs are also very reasonable in Hoffman Estates as the Grocery Cost Index there is 98 compared to 100 in the US. The city offers many employment opportunities with large companies such as Sears Holdings Corporation and Northwest Community Healthcare located there. Additionally, Hoffman Estates hosts a vibrant nightlife with plenty of shopping and entertainment options nearby. With its relatively low cost of living and abundance of local amenities, Hoffman Estates is a great place to call home.
Hoffman Estates has an unemployment rate of 5.4%. The US average is 6.0%.
Hoffman Estates has seen the job market decrease by -9.5% over the last year. Future job growth over the next ten years is predicted to be 27.1%, which is lower than the US average of 33.5%.
Tax Rates for Hoffman Estates
- The Sales Tax Rate for Hoffman Estates is 10.0%. The US average is 7.3%.
- The Income Tax Rate for Hoffman Estates 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 Estates
- The average income of a Hoffman Estates resident is $41,166 a year. The US average is $37,638 a year.
- The Median household income of a Hoffman Estates resident is $96,274 a year. The US average is $69,021 a year.