Niantic, IL is a small village located in Macon County. It has an estimated population of just over 600 people and is situated about 35 miles southeast of Springfield. The town offers affordable living costs with an average two bedroom rent rate of $780 compared to the national average of $1,430. Additionally, the cost of living index in Niantic is 92 versus 100 nationally. This means that groceries and other goods will be cheaper as well.
The town boasts several businesses such as Niantic Family Pharmacy, Niantic Bar & Grill, Yeoman Auto Sales and Service, and Remington Farm Supply. These local entrepreneurs provide jobs for many members of the community as well as needed services for residents.
Niantic has an unemployment rate of 8.6%. The US average is 6.0%.
Niantic has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Niantic
- The Sales Tax Rate for Niantic is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Niantic 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 Niantic
- The average income of a Niantic resident is $26,515 a year. The US average is $28,555 a year.
- The Median household income of a Niantic resident is $59,219 a year. The US average is $69,021 a year.