Elwood, IL (60421) is an area with a relatively affordable cost of living compared to the national average. The average rent for a 2 bedroom dwelling in Elwood is $1,240 whereas the US average is $1,430. Groceries are also relatively cheaper in Elwood with an index of 96 versus 100 in the US.
The Elwood area offers many local companies and amenities such as Phillips 66 and Subway for food and convenience needs; Panera Bread for those looking for a nice lunch or dinner; Willow Creek Golf Club and Oasis Water Park for entertainment and recreation; plus major supermarkets Aldi and Walmart. Additionally, there are numerous parks located within Elwood, as well as several churches to meet one's spiritual needs.
Elwood (zip 60421) has an unemployment rate of 7.1%. The US average is 6.0%.
Elwood (zip 60421) has seen the job market decrease by -9.5% over the last year. Future job growth over the next ten years is predicted to be 27.9%, which is lower than the US average of 33.5%.
Tax Rates for Elwood (zip 60421)
- The Sales Tax Rate for Elwood (zip 60421) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Elwood (zip 60421) 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 Elwood (zip 60421)
- The average income of a Elwood (zip 60421) resident is $42,571 a year. The US average is $37,638 a year.
- The Median household income of a Elwood (zip 60421) resident is $91,991 a year. The US average is $69,021 a year.