Litchfield, IL is a great city with plenty of opportunities for employment and leisure. The 2 bedroom rent in Litchfield is much lower than the US average, making it an attractive place to live for families looking for affordable housing. Additionally, the grocery cost index in Litchfield is 8% lower than the US average, further reducing costs of living. Businesses such as Hy-Vee Food Store and Casey's General Store make it easy to shop for groceries and other necessities in town. For employment, businesses such as Artex Knitting Mills Inc., Boss Manufacturing Company and Henniges Automotive offer plenty of job opportunities to local residents.
Litchfield has an unemployment rate of 6.4%. The US average is 6.0%.
Litchfield has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%.
Tax Rates for Litchfield
- The Sales Tax Rate for Litchfield is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Litchfield 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 Litchfield
- The average income of a Litchfield resident is $20,873 a year. The US average is $28,555 a year.
- The Median household income of a Litchfield resident is $50,069 a year. The US average is $69,021 a year.