Martinsville, IL is a small town located in central Illinois with a population of about 4,500 people. The cost of living in Martinsville is very affordable compared to the US, as it has an average two bedroom rent of $730 and a grocery cost index of 90 versus 100 in the US. Local companies in Martinsville include Freund Container & Supply Company, A To Z Muffler & Radiator Service, and The Salon at Hamilton Place. All these businesses offer quality services at an affordable price for residents of Martinsville. Furthermore, overall cost of living is significantly lower than that of the United States because of the low rental prices and grocery costs.
Martinsville has an unemployment rate of 6.2%. The US average is 6.0%.
Martinsville has seen the job market decrease by -7.8% over the last year. Future job growth over the next ten years is predicted to be 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Martinsville
- The Sales Tax Rate for Martinsville is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Martinsville 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 Martinsville
- The average income of a Martinsville resident is $21,765 a year. The US average is $37,638 a year.
- The Median household income of a Martinsville resident is $49,141 a year. The US average is $69,021 a year.