Sheldon, IL is a small town located in Iroquois County. It has a population of about 650 people, and the median 2 bedroom rent cost is $670. This makes it much more affordable than the US average of $1,430. Grocery costs in Sheldon are also considerably lower than the national average, with an index score of 90 versus 100 for the US as a whole.
The economy in Sheldon revolves around several local companies and industries. These include farming, local manufacturing options such as metal fabrication, and food processing centers. Several businesses related to farming and agriculture have sprung up over the years to support local farmers. A few restaurants have opened up around town as well; they provide a great dining experience that satisfies locals and visitors alike.
Sheldon has an unemployment rate of 5.6%. The US average is 6.0%.
Sheldon has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 27.3%, which is lower than the US average of 33.5%.
Tax Rates for Sheldon
- The Sales Tax Rate for Sheldon is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Sheldon 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 Sheldon
- The average income of a Sheldon resident is $16,965 a year. The US average is $28,555 a year.
- The Median household income of a Sheldon resident is $41,118 a year. The US average is $69,021 a year.