The small village of Magnolia, Illinois (population 613) is a great place to call home. With an average 2 bedroom rent sitting at $790, it's considerably more affordable than the US average of $1,430. Residents enjoy low grocery costs as well as access to local businesses such as Magnolia Mercantile, Strictly Country Antiques, and The Old Zoo Cafe & Ice Cream Parlor. This quaint town offers the perfect combination of rural charm with big city access just 90 minutes away from Chicago. Overall, the cost of living in Magnolia is significantly lower than the US average making it a great spot for families on a budget.
Magnolia (zip 61336) has an unemployment rate of 6.2%. The US average is 6.0%.
Magnolia (zip 61336) 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 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Magnolia (zip 61336)
- The Sales Tax Rate for Magnolia (zip 61336) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Magnolia (zip 61336) 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 Magnolia (zip 61336)
- The average income of a Magnolia (zip 61336) resident is $21,789 a year. The US average is $28,555 a year.
- The Median household income of a Magnolia (zip 61336) resident is $63,036 a year. The US average is $69,021 a year.