Knollwood, IL is a great place to live and work with many amenities available. The 2 bedroom rent in Knollwood is $1,750 while it is only slightly more expensive than the US average at $1,430. This makes Knollwood a great value for anyone looking for housing. There are also many businesses located in Knollwood such as IBM, Intel, and Motorola Solutions that provide employment opportunities for local residents. Furthermore, the Grocery Cost Index in Knollwood is 103 versus 100 in the US making food costs slightly higher than average. Overall this makes living in Knollwood relatively affordable with the estimated cost of living being moderate compared to other areas.
Knollwood has an unemployment rate of 6.4%. The US average is 6.0%.
Knollwood has seen the job market decrease by -7.7% over the last year. Future job growth over the next ten years is predicted to be 32.8%, which is lower than the US average of 33.5%.
Tax Rates for Knollwood
- The Sales Tax Rate for Knollwood is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Knollwood 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 Knollwood
- The average income of a Knollwood resident is $41,030 a year. The US average is $37,638 a year.
- The Median household income of a Knollwood resident is $123,523 a year. The US average is $69,021 a year.