Grand Tower, IL is a small town located in Jackson County with a population of 629. The cost of living in Grand Tower is quite affordable when compared to the US average. For example, 2 bedroom rent averages around $780, while it’s more than double at $1430 on average in the US. Grocery Cost Index in Grand Tower is 90 versus 100 in the US. This makes it easier for residents to afford living expenses. There are many local companies in Grand Tower that help keep the economy moving forward such as Parkland Health Mart Pharmacy, Turner Oilfield Services LLC, Anzor Construction Inc., and Community Home Care & Hospice. All these businesses offer valuable services that make life easier for those who live and work here.
Grand Tower (zip 62942) has an unemployment rate of 5.9%. The US average is 6.0%.
Grand Tower (zip 62942) has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 21.5%, which is lower than the US average of 33.5%.
Tax Rates for Grand Tower (zip 62942)
- The Sales Tax Rate for Grand Tower (zip 62942) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Grand Tower (zip 62942) 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 Grand Tower (zip 62942)
- The average income of a Grand Tower (zip 62942) resident is $19,910 a year. The US average is $28,555 a year.
- The Median household income of a Grand Tower (zip 62942) resident is $55,917 a year. The US average is $69,021 a year.