Coal City, IL (60416) is a small town in Grundy County with a population of 5,587 people. It is known for its coal mining industry and has a few local companies such as Coal City Machine Company, American Freightways Inc., and Kendallville Automotive Inc. The median home sale price in Coal City is $175,000 and the median rent cost is $1,050. The grocery cost index in Coal City is 98 versus 100 in the US. This makes it an affordable place to live with close proximity to all the amenities of larger cities nearby.
Coal City (zip 60416) has an unemployment rate of 6.6%. The US average is 6.0%.
Coal City (zip 60416) has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Coal City (zip 60416)
- The Sales Tax Rate for Coal City (zip 60416) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Coal City (zip 60416) 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 Coal City (zip 60416)
- The average income of a Coal City (zip 60416) resident is $27,745 a year. The US average is $28,555 a year.
- The Median household income of a Coal City (zip 60416) resident is $70,027 a year. The US average is $69,021 a year.