The small town of Deer Grove, Illinois with a population of 61243 offers a low cost of living compared to the rest of the United States. The average rent for a two bedroom apartment is $820 compared to the US average of $1430. Grocery costs are relatively inexpensive as well with an index score of 95 compared to 100 in the US. Local companies that contribute to the local economy include Fincor Electronics, CP Morgan, and M&M Industries. Furthermore, gas prices tend to be lower than most other cities in Illinois at about 3% below the state average. All in all, Deer Grove is an affordable place to live for those who enjoy rural life away from big cities.
Deer Grove (zip 61243) has an unemployment rate of 5.4%. The US average is 6.0%.
Deer Grove (zip 61243) has seen the job market decrease by -7.8% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Deer Grove (zip 61243)
- The Sales Tax Rate for Deer Grove (zip 61243) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Deer Grove (zip 61243) 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 Deer Grove (zip 61243)
- The average income of a Deer Grove (zip 61243) resident is $52,718 a year. The US average is $37,638 a year.
- The Median household income of a Deer Grove (zip 61243) resident is $115,469 a year. The US average is $69,021 a year.