Stanford, IL is a small town with a population of around 2,000 people. It boasts an affordable cost of living, with 2 bedroom rent averaging around $930 compared to the US average of $1,430. The Grocery Cost Index in Stanford is 93 versus 100 in the US. Local businesses in Stanford include Newlin's Hardware Store, Bob's Garage and Auto Repair, and Knot Just Bait Tackle & More. There is also a local cafe called Main Street Coffee Co., which serves quality coffee and sandwiches. Additionally, there are many small shops that offer all sorts of services from haircuts to legal advice.
Stanford has an unemployment rate of 5.0%. The US average is 6.0%.
Stanford has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 22.9%, which is lower than the US average of 33.5%.
Tax Rates for Stanford
- The Sales Tax Rate for Stanford is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Stanford 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 Stanford
- The average income of a Stanford resident is $21,900 a year. The US average is $28,555 a year.
- The Median household income of a Stanford resident is $63,750 a year. The US average is $69,021 a year.