Rockford, IL Metro Area is an ideal place to live for those looking for affordable living expenses. With a 2 bedroom rent of $940 compared to the national average of $1,430, renters can save money by moving to this area. Additionally, groceries cost around 8% less in Rockford than they do nationally. There are many local companies in the area such as Woodward Inc., BorgWarner Inc., and Metso Automation that provide job opportunities for locals. The combination of cheaper rent and local employment makes Rockford an attractive option for those looking to settle down. Furthermore, there are plenty of outdoor activities available nearby providing families with plenty of fun activities to enjoy.
Rockford Metro Area has an unemployment rate of 8.1%. The US average is 6.0%.
Rockford Metro Area has seen the job market decrease by -9.1% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Rockford Metro Area
- The Sales Tax Rate for Rockford Metro Area is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Rockford Metro Area 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 Rockford Metro Area
- The average income of a Rockford Metro Area resident is $31,605 a year. The US average is $37,638 a year.
- The Median household income of a Rockford Metro Area resident is $59,559 a year. The US average is $69,021 a year.