Ludlow, IL is a small city located in the Midwestern United States. It is known for its low cost of living and affordable rent prices. A two bedroom rental in Ludlow costs around $880, which is more than 40% lower than the US average of $1,430. Additionally, the grocery cost index in Ludlow is 92 compared to the US average of 100 which further adds to the affordability of living in this city. The local economy is fueled largely by manufacturing and agriculture; some big companies hiring local residents include North American Lighting Inc., Illini FS Inc., Edward Don & Co., and Kraft Foods Group Inc. Individuals looking for employment will have no problem finding jobs in these sectors as well as retail, hospitality, education, healthcare and technology.
Ludlow has an unemployment rate of 5.0%. The US average is 6.0%.
Ludlow has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Ludlow
- The Sales Tax Rate for Ludlow is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Ludlow 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 Ludlow
- The average income of a Ludlow resident is $16,376 a year. The US average is $28,555 a year.
- The Median household income of a Ludlow resident is $44,000 a year. The US average is $69,021 a year.