Shannon, IL is a small town located in the state of Illinois. It is known for its low cost of living and affordability of living space. Rent for two bedroom apartments in Shannon, IL averages $780 per month, while the national average for the same type of apartment is $1,430. This makes Shannon an attractive option for those looking to save on their housing costs. Furthermore, the Grocery Cost Index in Shannon is 92 as compared to 100 in the US, which indicates that food expenses are much lower than average as well.
Local companies in Shannon include Shannon Home Center and H&M Grocery Store. Shannon Home Center offers a wide variety of quality home improvement products at affordable prices. H&M Grocery Store provides fresh produce and groceries at discounted prices to local customers. These businesses help make living in Shannon even more affordable and convenient.
Shannon has an unemployment rate of 5.7%. The US average is 6.0%.
Shannon 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 Shannon
- The Sales Tax Rate for Shannon is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Shannon 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 Shannon
- The average income of a Shannon resident is $31,992 a year. The US average is $37,638 a year.
- The Median household income of a Shannon resident is $57,386 a year. The US average is $69,021 a year.