Mount Morris, IL is a village in Ogle County, with a population of 61054 as of 2020. It has a relatively low cost of living compared to the US average. For example, the median rent for a two bedroom apartment in Mount Morris is only $850 compared to the US median of $1,430. This makes it easy for locals to afford quality housing. Additionally, groceries are typically 10% less expensive than nationally; in Mount Morris the grocery cost index is 90 versus 100 in the US. \nThe village has several local businesses that contribute to its economy including Mt Morris Building Supply Co., Hometown Insurance Agency Inc., and Willett Construction & Fencing LLC. These businesses provide employment opportunities and contribute to an overall boost in economic activity for Mount Morris and surrounding areas.
Mount Morris (zip 61054) has an unemployment rate of 6.3%. The US average is 6.0%.
Mount Morris (zip 61054) has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 21.9%, which is lower than the US average of 33.5%.
Tax Rates for Mount Morris (zip 61054)
- The Sales Tax Rate for Mount Morris (zip 61054) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Mount Morris (zip 61054) 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 Mount Morris (zip 61054)
- The average income of a Mount Morris (zip 61054) resident is $23,759 a year. The US average is $28,555 a year.
- The Median household income of a Mount Morris (zip 61054) resident is $50,208 a year. The US average is $69,021 a year.