Prophetstown, IL is a small town with a population of just over 2,000 people located in the northwestern corner of Illinois. The cost of living in Prophetstown, IL is very reasonable when compared to the US as a whole. For example, the average rent for a two bedroom apartment is $890 compared to $1,430 for the US as a whole. Grocery prices in Prophetstown are also lower than those found elsewhere in the country, with an index score of 92 versus 100 in the US. Local companies such as Big Pig Farms Inc., Will County Agriculture Co-op Ltd., and L&L Farms provide employment opportunities for those looking to remain in the area while taking advantage of its lower cost of living.
Prophetstown has an unemployment rate of 5.4%. The US average is 6.0%.
Prophetstown has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Prophetstown
- The Sales Tax Rate for Prophetstown is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Prophetstown 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 Prophetstown
- The average income of a Prophetstown resident is $21,631 a year. The US average is $28,555 a year.
- The Median household income of a Prophetstown resident is $57,778 a year. The US average is $69,021 a year.