The small city of 62348 Lima, IL has an affordable cost of living compared to the rest of the US. The average 2 bedroom rental in 62348 Lima is $860, which is $570 less than the national average of $1430. Additionally, the Grocery Cost Index in 62348 Lima is 92 versus 100 in the US. This means groceries are 8% cheaper than they are on average nationally.
In 62348 Lima there are many local businesses that contribute to its small-town charm. Companies like Inman-Miller Ford, Steck’s Implement Inc., and Gustafson Farms LLC have been family owned and operated for generations. These businesses provide jobs and products to those living in 62348 Lima as well as nearby towns.
Lima (zip 62348) has an unemployment rate of 4.4%. The US average is 6.0%.
Lima (zip 62348) has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 28.6%, which is lower than the US average of 33.5%.
Tax Rates for Lima (zip 62348)
- The Sales Tax Rate for Lima (zip 62348) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Lima (zip 62348) 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 Lima (zip 62348)
- The average income of a Lima (zip 62348) resident is $18,731 a year. The US average is $28,555 a year.
- The Median household income of a Lima (zip 62348) resident is $76,250 a year. The US average is $69,021 a year.