Marengo, IL is a small city located in McHenry County with a charming atmosphere. The cost of living and rental fees are much lower than the US average. The rent for a two-bedroom apartment is $1,100 compared to the US two bedroom rent of $1,430 making Marengo an affordable option for those looking to live in the area. Furthermore, the grocery cost index in Marengo is 96 versus 100 in the US making groceries more affordable as well. \nFor those looking to explore local attractions there is plenty to do. The area offers historical sites such as Indian Creek Distillery which dates back to 1854 and historic train depots and storefronts. As well, there are local businesses like Goebbert's Farm & Garden Center that provides farm fresh produce and offers fun activities like pick-your-own strawberries and pumpkins. Finally, Marengo also has numerous restaurants ranging from Italian, Mexican, Chinese and American food that offers something for everyone’s taste buds.
Marengo has an unemployment rate of 5.9%. The US average is 6.0%.
Marengo has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 27.6%, which is lower than the US average of 33.5%.
Tax Rates for Marengo
- The Sales Tax Rate for Marengo is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Marengo 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 Marengo
- The average income of a Marengo resident is $23,959 a year. The US average is $28,555 a year.
- The Median household income of a Marengo resident is $65,136 a year. The US average is $69,021 a year.