Lexington, IL is a small town located in Central Illinois with a population of less than 1,500. Rent for a two-bedroom apartment is quite affordable at $840 per month, which is significantly lower than the national average of $1,430. The cost of groceries in Lexington is also very reasonable with an index of 95 compared to the US average of 100.
Some local businesses in Lexington include B&R Enterprises, which sells farm equipment and repairs engines; Grimshaw Services LLC, which provides home improvement services; and Haney’s Auto Repair, which specializes in car maintenance and repairs. For those looking to pick up some fresh produce or baked goods, J & M Farms Market offers locally grown fruits and vegetables as well as homemade pies, cookies, and cakes.
Lexington has an unemployment rate of 5.0%. The US average is 6.0%.
Lexington has seen the job market decrease by -6.8% over the last year. Future job growth over the next ten years is predicted to be 22.9%, which is lower than the US average of 33.5%.
Tax Rates for Lexington
- The Sales Tax Rate for Lexington is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Lexington 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 Lexington
- The average income of a Lexington resident is $36,379 a year. The US average is $37,638 a year.
- The Median household income of a Lexington resident is $83,233 a year. The US average is $69,021 a year.