Lima, IL is a small city located in Adams County with a population of 810 people. It is one of the most affordable places to live in the United States as 2 bedroom rent is $830 compared to the U.S average which is $1,430. The Grocery Cost Index in Lima, IL is 92 versus 100 in the US, making it an even more affordable place to live. The town features many local businesses such as Smith Corporation, Jones & Sons Insurance Agency and Anderson Consulting Firm that employ many of the citizens of Lima. The overall cost of living in Lima is also very low when compared to other areas in the U.S making it an ideal place for those looking for a more affordable lifestyle.
Lima has an unemployment rate of 4.4%. The US average is 6.0%.
Lima has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 28.6%, which is lower than the US average of 33.5%.
Tax Rates for Lima
- The Sales Tax Rate for Lima is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Lima 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 Lima
- The average income of a Lima resident is $18,306 a year. The US average is $28,555 a year.
- The Median household income of a Lima resident is $65,568 a year. The US average is $69,021 a year.