Milford, IL is a small town located in Iroquois County. It offers a great quality of life with affordable rent costs and living expenses. The average two bedroom apartment in Milford rents for $710 compared to the national average of $1430, making it an attractive option for those seeking an affordable place to live. The cost of groceries is also lower than the US average at a Grocery Cost Index of 91 versus 100 nationally. Local attractions include the bustling downtown shopping district which features boutiques, art galleries and eateries as well as Fon du Lac Park which offers great views of the surrounding countryside. Additionally, Milford boasts several small businesses including Johnson Automotive, Mayflower Store and JL Tax Service.
Milford has an unemployment rate of 5.6%. The US average is 6.0%.
Milford has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 27.3%, which is lower than the US average of 33.5%.
Tax Rates for Milford
- The Sales Tax Rate for Milford is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Milford 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 Milford
- The average income of a Milford resident is $22,241 a year. The US average is $28,555 a year.
- The Median household income of a Milford resident is $45,000 a year. The US average is $69,021 a year.