Illinois is a great place to live, offering a diverse range of activities and attractions. The state has a population of 12,671,821 people and is home to big companies such as McDonalds, Sears, Walgreens and Weber Grills. On average, two-bedroom rent in Illinois costs $1,260 compared to the US average of $1,430. Similarly, the grocery cost index for Illinois is 94 compared to 100 in the US. This makes Illinois an affordable place to live with plenty of job opportunities due to its large presence of businesses. With all these benefits plus lots more offered by living in Illinois it's no wonder why so many people choose this state as their home.
Illinois has an unemployment rate of 7.1%. The US average is 6.0%.
Illinois has seen the job market decrease by -8.6% over the last year. Future job growth over the next ten years is predicted to be 26.5%, which is lower than the US average of 33.5%.
Tax Rates for Illinois
- The Sales Tax Rate for Illinois is 8.7%. The US average is 7.3%.
- The Income Tax Rate for Illinois 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 Illinois
- The average income of a Illinois resident is $39,571 a year. The US average is $37,638 a year.
- The Median household income of a Illinois resident is $72,563 a year. The US average is $69,021 a year.