Polo, IL is a small town located in Ogle County, and it is known for its affordability and convenience. The average two-bedroom rent in Polo is $850, which is much less than the US median of $1,430. Additionally, the Grocery Cost Index in Polo, IL is 90 compared to 100 in the US. This makes living costs lower than many other areas.
Local businesses help support the economy of Polo by providing employment opportunities and services to residents. Several companies have a presence in Polo such as Tyson Foods, DairiConcepts LLC, and Durham Manufacturing Company. These businesses employ hundreds of people and provide valuable services to the community. They also serve as retailers, offering goods that are beneficial for the local economy. Furthermore, all of these companies have contributed to improving the infrastructure of Polo with new developments such as roads or public parks. In turn this has enabled more people to move to Polo and become part of its thriving community.
Polo has an unemployment rate of 6.3%. The US average is 6.0%.
Polo has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 21.9%, which is lower than the US average of 33.5%.
Tax Rates for Polo
- The Sales Tax Rate for Polo is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Polo 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 Polo
- The average income of a Polo resident is $25,552 a year. The US average is $28,555 a year.
- The Median household income of a Polo resident is $48,446 a year. The US average is $69,021 a year.