Schaumburg, IL is an attractive and vibrant Chicago suburb located northwest of the city. Known for its lively shopping and dining scene, it is home to many large businesses including Motorola Solutions and Zurich Financial Services. It also houses a variety of attractions such as the Schaumburg Medieval Times, Legoland Discovery Center, and Woodfield Mall – one of the largest shopping malls in the country. Although rent is higher than the US average ($1,860 compared to $1,430) groceries are more reasonably priced with a grocery cost index of 97 compared to 100 across the US. There's much to explore in Schaumburg – providing an excellent opportunity for anyone looking for a change of pace from city life.
Schaumburg has an unemployment rate of 5.3%. The US average is 6.0%.
Schaumburg 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 27.9%, which is lower than the US average of 33.5%.
Tax Rates for Schaumburg
- The Sales Tax Rate for Schaumburg is 10.0%. The US average is 7.3%.
- The Income Tax Rate for Schaumburg 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 Schaumburg
- The average income of a Schaumburg resident is $35,925 a year. The US average is $28,555 a year.
- The Median household income of a Schaumburg resident is $85,147 a year. The US average is $69,021 a year.