Richmond, IL is a small city boasting a myriad of local businesses and amenities for its residents. Some popular businesses include the Richmond Family Restaurant for classic American cuisine, Ricco's Pizza & Pub for Italian favorites, and Zeller Farms for fresh produce. For leisure activities, the city also offers the Richmond Park District which features numerous playgrounds, walking trails, disc golf courses and more. With costs of living substantially lower than the national average—2 bedroom rent averages $1,150 compared to $1,430 in the US—Richmond offers a great value to those looking for a high quality of life. Furthermore, grocery costs are 97 points on the index versus 100 in the US—making it even more affordable to live in this charming city.
Richmond has an unemployment rate of 5.9%. The US average is 6.0%.
Richmond has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 27.6%, which is lower than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Richmond 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 Richmond
- The average income of a Richmond resident is $30,100 a year. The US average is $28,555 a year.
- The Median household income of a Richmond resident is $55,964 a year. The US average is $69,021 a year.