62316 Bowen, IL is an ideal place for those looking to find a cost-effective living situation. The 2 bedroom rent in the area is $700, which is substantially lower than the US average of $1430. Grocery costs in the area are also relatively affordable, with the index at 90 compared to 100 in the US. As such, it is great for those looking to save money without having to compromise on their lifestyle. Local businesses in 62316 Bowen, IL include Bowen Community Market, a grocery store and butcher; Betty's Cafe, a popular diner; and C&K Hardware Store, a hardware shop with knowledgeable staff who are always willing to help out customers.
Bowen (zip 62316) has an unemployment rate of 5.3%. The US average is 6.0%.
Bowen (zip 62316) has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Bowen (zip 62316)
- The Sales Tax Rate for Bowen (zip 62316) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Bowen (zip 62316) 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 Bowen (zip 62316)
- The average income of a Bowen (zip 62316) resident is $15,953 a year. The US average is $28,555 a year.
- The Median household income of a Bowen (zip 62316) resident is $59,531 a year. The US average is $69,021 a year.