Lovington, IL, a small city in Moultrie County with a population of 61937, is known for its affordable living costs. The average rent for a 2 bedroom apartment here is $800 - much lower than the national average of $1,430. Similarly, the Grocery Cost Index in Lovington is 92 verses 100 in the US. Residents of Lovington are able to stretch their income further than other cities. There are several businesses that operate locally in Lovington such as Kinsel Ford-Mercury Inc., Senger's Bluffview Farm Supply, Wabash Valley Networks, and Country Financial Agency-Roger Smith. These companies provide employment opportunities to many local residents and contribute to the economic growth of the area.
Lovington (zip 61937) has an unemployment rate of 3.9%. The US average is 6.0%.
Lovington (zip 61937) has seen the job market decrease by -6.2% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Lovington (zip 61937)
- The Sales Tax Rate for Lovington (zip 61937) is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Lovington (zip 61937) 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 Lovington (zip 61937)
- The average income of a Lovington (zip 61937) resident is $26,120 a year. The US average is $37,638 a year.
- The Median household income of a Lovington (zip 61937) resident is $52,740 a year. The US average is $69,021 a year.