61531 Farmington, IL is a small town in Fulton county with a population of 871 according to the US Census in 2018. It is a great place to live for those who are looking for a more rural lifestyle without giving up the amenities of larger cities. The average two bedroom rent in 61531 Farmington, IL is $940 which is much lower than the national average rent of $1,430. Additionally, the cost index for groceries here is 93 versus 100 for the US overall making it an affordable option for many people.
There are several local companies in 61531 Farmington, IL including Patty’s Grocery Store and Deli, Fulton & Son’s Fertilizer and Seed Co., Thompson Farms Dairy Co., Nick’s Supermarket, and Farmer’s Market Grocery Store. All of these businesses employ local citizens and contribute to the economy of 61531 Farmington, IL making it a great place to live and work.
Farmington (zip 61531) has an unemployment rate of 6.6%. The US average is 6.0%.
Farmington (zip 61531) has seen the job market decrease by -7.2% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Farmington (zip 61531)
- The Sales Tax Rate for Farmington (zip 61531) is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Farmington (zip 61531) 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 Farmington (zip 61531)
- The average income of a Farmington (zip 61531) resident is $30,869 a year. The US average is $37,638 a year.
- The Median household income of a Farmington (zip 61531) resident is $58,220 a year. The US average is $69,021 a year.