Melvin, IL is a small town located in Iroquois County. It is known for its beautiful natural landscapes and friendly community. It has a population of over 400 people and offers a variety of services to its residents including grocery stores, restaurants, banks, medical facilities, schools and churches. Rent prices for two bedroom homes are significantly lower than the national average at $720 compared to $1,430 in the US. Grocery costs in Melvin are also far lower than the national average as indicated by the Grocery Cost Index of 91 versus 100 in the US. Some of the local businesses in Melvin include McKenzie’s Cafe & Catering, Turner Automotive Group, and Iroquois Plumbing & Heating.
Melvin has an unemployment rate of 4.8%. The US average is 6.0%.
Melvin has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 26.9%, which is lower than the US average of 33.5%.
Tax Rates for Melvin
- The Sales Tax Rate for Melvin is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Melvin 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 Melvin
- The average income of a Melvin resident is $19,591 a year. The US average is $28,555 a year.
- The Median household income of a Melvin resident is $47,500 a year. The US average is $69,021 a year.