Savanna, IL is a small town located about 2 hours from Chicago and is home to many local businesses. Popular companies include Hy-Vee Food Stores, First National Bank & Trust Co., Savanna Machine Works, Savanna Automotive Group, and Kohl's Department Store. The cost of living in Savanna, IL is significantly lower than the US average. For example, the average 2 bedroom rent in Savannah is just $690 compared to the national average of $1,430 and the grocery cost index in Savanna is 91 versus 100 for the US as a whole. This makes Savannah an ideal place for people looking to save money while enjoying all that a small town has to offer.
Savanna has an unemployment rate of 5.7%. The US average is 6.0%.
Savanna has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 16.4%, which is lower than the US average of 33.5%.
Tax Rates for Savanna
- The Sales Tax Rate for Savanna is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Savanna 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 Savanna
- The average income of a Savanna resident is $26,288 a year. The US average is $37,638 a year.
- The Median household income of a Savanna resident is $42,713 a year. The US average is $69,021 a year.