Milan, IL is a small town with a population of 6,124 as of 2018. The average rent for a two bedroom apartment is $910 which is much less than the national average of $1,430. The Grocery Cost Index in Milan, IL is 95 compared to an index of 100 nationally making it a relatively inexpensive place to live. There are many local businesses in and around Milan, IL including Hy-Vee Grocery Store, Coalition Technologies, CommonGrounds Coworking and Silgan Containers Corporation. These companies employ locals from Milan and provide economic opportunities for them to have successful careers and lives in the area.
Milan (zip 61264) has an unemployment rate of 6.6%. The US average is 6.0%.
Milan (zip 61264) has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 26.4%, which is lower than the US average of 33.5%.
Tax Rates for Milan (zip 61264)
- The Sales Tax Rate for Milan (zip 61264) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Milan (zip 61264) 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 Milan (zip 61264)
- The average income of a Milan (zip 61264) resident is $28,658 a year. The US average is $28,555 a year.
- The Median household income of a Milan (zip 61264) resident is $64,063 a year. The US average is $69,021 a year.