The city of Chicago, IL (ZIP code 60621) is known for its high cost of living. The average 2 bedroom rent per month is $1,060 which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Chicago is 93 versus 100 in the US. To help locals manage their expenses, there are a variety of local companies that offer discounts and services to reduce costs. For instance, Community Savings and Grocery makes it easier for low income families to get access to affordable groceries at discounted prices while Community Cashback provides cashback rewards on everyday purchases. In conclusion, Chicago can be an expensive place to live but with a few cost-cutting strategies, many locals can find ways to manage their finances and stay within budget.
Chicago (zip 60621) has an unemployment rate of 9.0%. The US average is 6.0%.
Chicago (zip 60621) has seen the job market decrease by -9.4% over the last year. Future job growth over the next ten years is predicted to be 25.7%, which is lower than the US average of 33.5%.
Tax Rates for Chicago (zip 60621)
- The Sales Tax Rate for Chicago (zip 60621) is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Chicago (zip 60621) 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 Chicago (zip 60621)
- The average income of a Chicago (zip 60621) resident is $15,738 a year. The US average is $37,638 a year.
- The Median household income of a Chicago (zip 60621) resident is $24,912 a year. The US average is $69,021 a year.