Riverwoods, IL is a small village located in Lake County and just 20 miles from Chicago. It is known for its luxurious homes, excellent schools, and a friendly atmosphere. With a population of less than 5,000 people, it is a perfect place to settle down for those who want to experience the suburban lifestyle without being too far away from the city life. Although rent prices are slightly more expensive in Riverwoods than the US average at $2,110 per two-bedroom unit; groceries are actually slightly cheaper with an index of 104 versus 100 in the US. Additionally, Riverwoods has many attractions and amenities such as the Riverwoods Park District which offers various recreational activities throughout the year and children’s programs. The local businesses in Riverwoods consist of restaurants such as La Cocina Mexicana and retail stores like Riverwoods Trading Company.
Riverwoods has an unemployment rate of 6.4%. The US average is 6.0%.
Riverwoods has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 32.8%, which is lower than the US average of 33.5%.
Tax Rates for Riverwoods
- The Sales Tax Rate for Riverwoods is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Riverwoods 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 Riverwoods
- The average income of a Riverwoods resident is $78,978 a year. The US average is $28,555 a year.
- The Median household income of a Riverwoods resident is $213,068 a year. The US average is $69,021 a year.