Loami, IL is a small village located in Sangamon County in Illinois. It covers just 1.45 square miles and has an estimated population of 595 people. The cost of living here is quite low compared to the US, with a 2 Bedroom rent approximately $820 per month, versus $1,430 across the US as a whole. The Grocery Cost Index here also stands at 94 compared to 100 in the US. \nThe village is home to a number of local businesses such as Loami Tire & Automotive, TDE Sheet Metal Fabrication Inc., and L&T Auto Service. These companies employ many people within the village and offer goods and services that can be hard to find elsewhere within the area due to its size.
Loami has an unemployment rate of 6.3%. The US average is 6.0%.
Loami has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Loami
- The Sales Tax Rate for Loami is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Loami 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 Loami
- The average income of a Loami resident is $20,241 a year. The US average is $28,555 a year.
- The Median household income of a Loami resident is $51,875 a year. The US average is $69,021 a year.