Lebanon, IL is a small city located in Central Illinois. With a population of 6,000, it is a great place to live for those who are looking for a quiet lifestyle and an opportunity to experience rural life. It has plenty of outdoor activities to enjoy such as hiking and biking trails, lakes and parks. The two bedroom rent in Lebanon is only $1,000 compared to the US average of $1,430 making it more affordable than other parts of the country. The grocery cost index in Lebanon is also lower than the US with 95 versus 100 respectively. Living in Lebanon can be made even more economical by taking advantage of the local companies which include Coopland Insurance Agency, Gilead General Store, Jones Hardware & Furniture Co., Central Bank and Community Hospital in Mt. Vernon.
Lebanon has an unemployment rate of 6.7%. The US average is 6.0%.
Lebanon has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Lebanon
- The Sales Tax Rate for Lebanon is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Lebanon 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 Lebanon
- The average income of a Lebanon resident is $28,873 a year. The US average is $37,638 a year.
- The Median household income of a Lebanon resident is $75,179 a year. The US average is $69,021 a year.