Menominee, IL is a small town located in the Midwestern United States with a population of about 1,000 people. It has an average 2 bedroom rent of $790 which is much lower than the national average of $1,430. This makes it an attractive place to live for those looking for more affordable housing costs. Additionally, grocery costs are also significantly lower when compared to the rest of the US, with an index score of 94 versus 100.
In Menominee there are a few local businesses that contribute to its economy including Oak Ridge Farms, Kingsbury Hardware Store and S&G Service Station. These businesses each provide services that are essential to this small town and they often employ many residents from the area as well.
The cost of living in Menominee is considerably lower than in most other places around the US due to lower rent prices and grocery costs. This could make it appealing for those who want to save while living comfortably in a rural setting.
Menominee has an unemployment rate of 6.1%. The US average is 6.0%.
Menominee has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 18.9%, which is lower than the US average of 33.5%.
Tax Rates for Menominee
- The Sales Tax Rate for Menominee is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Menominee 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 Menominee
- The average income of a Menominee resident is $25,946 a year. The US average is $28,555 a year.
- The Median household income of a Menominee resident is $87,250 a year. The US average is $69,021 a year.