Hillsboro, IL is a small city located in Montgomery county with a population of 5,000. It has a median 2 bedroom rent of $710 which is much lower than the US average of $1,430. Hillsboro also has a grocery cost index of 92 compared to 100 in the US, meaning it’s cheaper to buy groceries in Hillsboro than it is on average nationally. This makes Hillsboro an ideal place for those who want to keep their living expenses low and save money.
Hillsboro also has a number of local businesses including Central Bank, HyVee Grocery Store, First National Bank and Trust Co., Burger King, Target and Walmart Superstore just to name a few. The city also hosts several annual events such as the Watermelon Festival in July and the Hillsboro Car Show in September; both events bring people from all over the Midwest together for some fun and entertainment.
Hillsboro (zip 62049) has an unemployment rate of 6.4%. The US average is 6.0%.
Hillsboro (zip 62049) has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%.
Tax Rates for Hillsboro (zip 62049)
- The Sales Tax Rate for Hillsboro (zip 62049) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Hillsboro (zip 62049) 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 Hillsboro (zip 62049)
- The average income of a Hillsboro (zip 62049) resident is $14,412 a year. The US average is $28,555 a year.
- The Median household income of a Hillsboro (zip 62049) resident is $69,942 a year. The US average is $69,021 a year.