61728 Colfax, IL is a small town in the central part of Illinois. It's a great place to live for people who are looking for a peaceful environment with plenty of amenities. It is home to two major businesses, Central Illinois Grain Processing and Colfax Elevator Company. These companies provide jobs and services that help the local economy.
The cost of living in this area is relatively low compared to other parts of the US. The 2 bedroom rent here is $810 which is significantly less than the nationwide average of $1,430. Additionally, there is also a good grocery cost index here with 93 versus 100 in the US which adds further value for those looking to move here.
Colfax (zip 61728) has an unemployment rate of 5.0%. The US average is 6.0%.
Colfax (zip 61728) has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 22.9%, which is lower than the US average of 33.5%.
Tax Rates for Colfax (zip 61728)
- The Sales Tax Rate for Colfax (zip 61728) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Colfax (zip 61728) 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 Colfax (zip 61728)
- The average income of a Colfax (zip 61728) resident is $29,330 a year. The US average is $28,555 a year.
- The Median household income of a Colfax (zip 61728) resident is $64,524 a year. The US average is $69,021 a year.