Industry, IL is a small town located in McDonough County. It has a population of approximately 2,400 people and is considered an attractive destination for those looking for smaller living spaces. The average rent for a two-bedroom apartment in Industry is much lower than the national average at just $720 compared to $1,430. Prices on groceries are also relatively cheap with the grocery cost index being 91 compared to 100 nationally.
The local economy in Industry is largely supported by agriculture and manufacturing industries, with companies such as Kuhlman Electric Company and McDonough Manufacturing Company providing employment opportunities in the area. In addition to its economic activity, Industry also offers plenty of amenities to its residents including a local library, multiple parks, and restaurants.
Industry has an unemployment rate of 5.3%. The US average is 6.0%.
Industry has seen the job market decrease by -7.4% over the last year. Future job growth over the next ten years is predicted to be 16.6%, which is lower than the US average of 33.5%.
Tax Rates for Industry
- The Sales Tax Rate for Industry is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Industry 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 Industry
- The average income of a Industry resident is $25,000 a year. The US average is $37,638 a year.
- The Median household income of a Industry resident is $56,667 a year. The US average is $69,021 a year.