Potomac, IL is a small community located in Vermilion County. The average 2 bedroom rent in the town is relatively inexpensive at $800, making it an attractive option for those who are looking for an affordable place to call home. In addition to reasonable rent costs, grocery bills are also lower than the national average as the Grocery Cost Index in Potomac is 92 compared to 100 across the United States.
Potomac has a few businesses that contribute to its economy including J&L Marine Service, Potomac Cafe and Bakery, and Southern Illinois Horse Sales. The town also offers many attractions for both locals and visitors such as the Potomac Historical Museum, Wolf Creek State Park and Lake Shelbyville Recreational Area.
Potomac has an unemployment rate of 6.9%. The US average is 6.0%.
Potomac 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 17.5%, which is lower than the US average of 33.5%.
Tax Rates for Potomac
- The Sales Tax Rate for Potomac is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Potomac 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 Potomac
- The average income of a Potomac resident is $20,270 a year. The US average is $28,555 a year.
- The Median household income of a Potomac resident is $48,929 a year. The US average is $69,021 a year.