The small town of Elwin, Illinois has an estimated population of 62532 and is a great place to live. The average 2 bedroom rent cost in Elwin is $860, which is much lower than the national average of $1,430. Additionally, the grocery cost index in Elwin is 92 compared to the national average of 100. This means that residents of Elwin can save money on everyday purchases when compared to other areas.
Elwin is home to several businesses such as Joe's Auto Repair, Johnson's Bakery, and First National Bank, offering locals quality services at great prices. There are also plenty of entertainment options such as Hillside Theater where locals can enjoy movies on the big screen.
Overall, Elwin offers a great environment for those looking for an affordable living situation with access to plenty of amenities. With its low cost of living and abundant local businesses it’s no wonder so many people have chosen to settle down in this small town.
Elwin (zip 62532) has an unemployment rate of 8.6%. The US average is 6.0%.
Elwin (zip 62532) has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Elwin (zip 62532)
- The Sales Tax Rate for Elwin (zip 62532) is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Elwin (zip 62532) 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 Elwin (zip 62532)
- The average income of a Elwin (zip 62532) resident is $29,296 a year. The US average is $37,638 a year.
- The Median household income of a Elwin (zip 62532) resident is $0 a year. The US average is $69,021 a year.