Ruma, IL is a small village located in Randolph County. It’s primarily a farming community and there are several local companies that contribute to its economy. These include Ruma Hardware, which offers hardware and appliance sales and repairs; Miller’s Feed Store, which provides feed for livestock; and Red Barn Produce, which sells farm-fresh produce. Other businesses in the area include The Corner Market Café, Kate’s Place Bar & Grill, Ruma General Store, and Sunnyside Grocery Store. The cost of living is lower than the US average due to a lower 2 bedroom rent of $840 compared to the US average of $1,430 as well as a lower grocery cost index of 96 versus 100 in the US.
Ruma has an unemployment rate of 4.4%. The US average is 6.0%.
Ruma has seen the job market decrease by -7.7% over the last year. Future job growth over the next ten years is predicted to be 25.7%, which is lower than the US average of 33.5%.
Tax Rates for Ruma
- The Sales Tax Rate for Ruma is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Ruma 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 Ruma
- The average income of a Ruma resident is $27,358 a year. The US average is $37,638 a year.
- The Median household income of a Ruma resident is $70,417 a year. The US average is $69,021 a year.