Spring Bay, IL is a small city located in central Illinois. The cost of living in Spring Bay is quite low compared to the US average. Rent for two bedroom apartments costs $790 per month and groceries are 4% cheaper than the national average. Popular local businesses include Famly Pizza, an Italian restaurant; Blue Sky Auto Repair, a car repair shop; and G&G Security Services, a security company. These companies offer services that make the small community of Spring Bay a vibrant place to live.
Spring Bay has an unemployment rate of 4.5%. The US average is 6.0%.
Spring Bay has seen the job market decrease by -7.6% over the last year. Future job growth over the next ten years is predicted to be 20.8%, which is lower than the US average of 33.5%.
Tax Rates for Spring Bay
- The Sales Tax Rate for Spring Bay is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Spring Bay 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 Spring Bay
- The average income of a Spring Bay resident is $23,813 a year. The US average is $37,638 a year.
- The Median household income of a Spring Bay resident is $39,792 a year. The US average is $69,021 a year.