The city of Monticello, Illinois (zip code 61856) is an excellent place to live as it has a relatively low cost of living. The average 2 bedroom rent in Monticello is only $1,100 compared to the US average of $1,430. Additionally, the grocery cost index in Monticello is 97 while the US index is at 100, making it an affordable place for groceries. Local companies include Zabco Manufacturing Corporation which produces precision machined parts and components for the aerospace industry. Another local business is E&T Rentals which provides short term equipment rentals such as digger derricks, aerial lifts, and auger drills for construction projects. Finally there is HPC Products which manufactures custom-designed HVAC systems for residential and commercial buildings.
Monticello (zip 61856) has an unemployment rate of 4.3%. The US average is 6.0%.
Monticello (zip 61856) has seen the job market decrease by -4.4% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Monticello (zip 61856)
- The Sales Tax Rate for Monticello (zip 61856) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Monticello (zip 61856) 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 Monticello (zip 61856)
- The average income of a Monticello (zip 61856) resident is $37,277 a year. The US average is $37,638 a year.
- The Median household income of a Monticello (zip 61856) resident is $84,082 a year. The US average is $69,021 a year.