East Chicago, IN is an affordable place to live with a notable cost of living. The average 2 bedroom rent in the city is $840 compared to the US average of $1,430, which means people are able to spend their money on other necessities or save for the future. Additionally, the grocery cost index in the area is 91 compared to 100 in the US- another great way for residents to save money and stretch their budget.
East Chicago's economy is based around industries such as steel production, aluminum smelting, and chemical production. Major local companies include ArcelorMittal Indiana Harbor and BP America Inc., both of which are located along Lake Michigan. Other businesses located in East Chicago include Savin Foods Corporation and Rush Transport Services Inc. Combined, these businesses provide employment opportunities for thousands of people throughout the region.
When it comes to cost of living comparison between East Chicago and other cities in US, it’s clear that East Chicago offers a more affordable lifestyle than many other places. With lower rent prices and low grocery costs combined with plentiful job opportunities from local businesses, East Chicago provides a great choice for those looking to settle down in a frugal yet still rewarding place.
East Chicago has an unemployment rate of 12.5%. The US average is 6.0%.
East Chicago has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 24.9%, which is lower than the US average of 33.5%.
Tax Rates for East Chicago
- The Sales Tax Rate for East Chicago is 7.0%. The US average is 7.3%.
- The Income Tax Rate for East Chicago is 3.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for East Chicago
- The average income of a East Chicago resident is $13,868 a year. The US average is $28,555 a year.
- The Median household income of a East Chicago resident is $37,807 a year. The US average is $69,021 a year.