Highwood, IL is an affluent suburb of Chicago with a population of 5,150. The 2 bedroom rent in Highwood is $1,620, which is slightly higher than the US average of $1,430. This likely reflects the area’s higher cost of living. The Grocery Cost Index in Highwood is 99 versus 100 in the US average. Local companies include Cushman & Wakefield Real Estate Services, United Security Bank and National Bridge Technologies. These companies all specialize in providing services to both residents and businesses in Highwood and the surrounding areas.
Highwood (zip 60040) has an unemployment rate of 6.4%. The US average is 6.0%.
Highwood (zip 60040) has seen the job market decrease by -7.7% over the last year. Future job growth over the next ten years is predicted to be 32.8%, which is lower than the US average of 33.5%.
Tax Rates for Highwood (zip 60040)
- The Sales Tax Rate for Highwood (zip 60040) is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Highwood (zip 60040) 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 Highwood (zip 60040)
- The average income of a Highwood (zip 60040) resident is $42,321 a year. The US average is $37,638 a year.
- The Median household income of a Highwood (zip 60040) resident is $88,913 a year. The US average is $69,021 a year.