Tower Hill, IL is a great place to live if you want to save money. The rent for a two bedroom apartment is only $780, which is significantly lower than the national average of $1,430 per month. The grocery cost index in Tower Hill is also much lower than the US average at 91. This low cost of living makes Tower Hill attractive to those who need to budget due to limited funds. There are many local companies in the area that offer goods and services at an affordable price including Brown's Grocery Store, Dave's Auto Repair, and Smith Family Restaurant. With these businesses and the low cost of living in Tower Hill, IL residents can stretch their dollar further while still enjoying quality goods and services.
Tower Hill has an unemployment rate of 4.8%. The US average is 6.0%.
Tower Hill has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Tower Hill
- The Sales Tax Rate for Tower Hill is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Tower Hill 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 Tower Hill
- The average income of a Tower Hill resident is $16,697 a year. The US average is $28,555 a year.
- The Median household income of a Tower Hill resident is $54,500 a year. The US average is $69,021 a year.