Sherrard, IL is a small village in Mercer County. It is an affordable place to live with a median rent of $960 for two-bedroom apartments. This is significantly lower than the US median for two-bedroom rental properties, which stands at $1,430. The grocery cost index in Sherrard also reflects the low cost of living, standing at 97 compared to 100 nationally. Local businesses in Sherrard include Big River Resources, LLC, Dynamic Foods Inc., and J Taylor & Son Inc., all offering employment opportunities to residents as well as various services. With its relatively low cost of living and numerous local businesses, Sherrard makes a great choice for those looking for a quiet place to call home.
Sherrard has an unemployment rate of 6.4%. The US average is 6.0%.
Sherrard has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 26.1%, which is lower than the US average of 33.5%.
Tax Rates for Sherrard
- The Sales Tax Rate for Sherrard is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Sherrard 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 Sherrard
- The average income of a Sherrard resident is $24,782 a year. The US average is $28,555 a year.
- The Median household income of a Sherrard resident is $74,464 a year. The US average is $69,021 a year.