Iola, IL is a small town located in central Illinois. The population is relatively small but there are several local businesses that help make the town thrive. Some of these businesses include Iola Hardware, Sunshine Grocery, and M&P Auto Repair. The rent for a two bedroom apartment in Iola is about $690 per month which is much lower than the national average of $1,430. Additionally, the grocery cost index in Iola is 92 compared to the US average of 100. This makes Iola an attractive option for those looking to save money while still having access to all major amenities. All in all, Iola's cost of living makes it an excellent choice for anyone looking to settle down without breaking the bank.
Iola has an unemployment rate of 6.2%. The US average is 6.0%.
Iola has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.
Tax Rates for Iola
- The Sales Tax Rate for Iola is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Iola 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 Iola
- The average income of a Iola resident is $9,981 a year. The US average is $28,555 a year.
- The Median household income of a Iola resident is $43,594 a year. The US average is $69,021 a year.