Toledo IL is known for its affordability and a relatively low cost of living. The average 2 bedroom rent in the area is $770 which is significantly lower than the US average of $1,430. The Grocery Cost Index in Toledo, IL is also lower than the national average at 93 compared to 100. This makes it an attractive option to those looking for great value for their money and a good quality of life.
Toledo, IL is home to many local businesses such as B&H Farms Produce & Garden Supply, JB Automotive and Lewis County Feeds & Seeds. This small town community has plenty of resources available including a library, recreation center and senior center. You can also find many local parks that allow residents to enjoy nature and get some exercise while taking in the beautiful scenery that surrounds this charming town.
Toledo has an unemployment rate of 5.0%. The US average is 6.0%.
Toledo 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 39.2%, which is higher than the US average of 33.5%.
Tax Rates for Toledo
- The Sales Tax Rate for Toledo is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Toledo 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 Toledo
- The average income of a Toledo resident is $18,350 a year. The US average is $28,555 a year.
- The Median household income of a Toledo resident is $63,333 a year. The US average is $69,021 a year.