Timberlane, IL is an attractive place to live for those looking to save money. The average 2 bedroom rent in Timberlane IL is $1,000 compared to the US average of $1,430. In addition, the Grocery Cost Index in Timberlane IL is 93 versus the US which is 100. This means that groceries are comparatively cheaper than other locations around the country. There are plenty of local businesses available such as Mitchell’s Hardware Store and Kaela’s Bakery that provide a variety of products within walking distance from most houses in Timberlane. All in all, Timberlane makes for an ideal place to call home if you are looking for affordability while enjoying the convenience of having access to quality products and services near your residence.
Timberlane has an unemployment rate of 7.8%. The US average is 6.0%.
Timberlane has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for Timberlane
- The Sales Tax Rate for Timberlane is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Timberlane 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 Timberlane
- The average income of a Timberlane resident is $44,787 a year. The US average is $28,555 a year.
- The Median household income of a Timberlane resident is $175,625 a year. The US average is $69,021 a year.