Sherman, IL is a small city located in the midwestern United States. It boasts a relatively lower cost of living than many other parts of the United States. Specifically, in Sherman, IL two bedroom rent averages around $1,000 per month while the US 2 Bedroom Rent is currently at $1,430. Similarly, the grocery cost index in Sherman is 98 versus 100 in the US.
The city also has several local businesses that contribute to its vibrant economy. These include stores like Walmart and Target as well as restaurants such as Applebee's and Olive Garden. Additionally there are numerous small independent businesses that offer residents unique goods and services at competitive prices. All of these factors make Sherman an attractive option for potential home buyers looking for an affordable place to live with plenty of amenities available nearby.
Sherman has an unemployment rate of 6.3%. The US average is 6.0%.
Sherman has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Sherman
- The Sales Tax Rate for Sherman is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Sherman 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 Sherman
- The average income of a Sherman resident is $39,535 a year. The US average is $28,555 a year.
- The Median household income of a Sherman resident is $132,500 a year. The US average is $69,021 a year.