62357 New Salem, IL is a great place to call home, with an average two-bedroom rent of $680 per month. This is far less than the US average of $1,430 for an equivalent property. Grocery costs are also relatively low at 92 on the index compared to the national baseline of 100. The local economy is mainly supported by farming and small businesses. Popular companies located in 62357 New Salem, IL include Robinson Implement Company, Inc., Bob Lanzer Farms & Seeds, Inc., Richland Electric Cooperative, and Agri-Seeds Specialist LLC. Other popular businesses include Salina Furniture Store, D&D Country Market and Hellman's Auto Body Repair & Welding Shop.
New Salem (zip 62357) has an unemployment rate of 4.8%. The US average is 6.0%.
New Salem (zip 62357) 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 13.7%, which is lower than the US average of 33.5%.
Tax Rates for New Salem (zip 62357)
- The Sales Tax Rate for New Salem (zip 62357) is 7.8%. The US average is 7.3%.
- The Income Tax Rate for New Salem (zip 62357) 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 New Salem (zip 62357)
- The average income of a New Salem (zip 62357) resident is $25,535 a year. The US average is $37,638 a year.
- The Median household income of a New Salem (zip 62357) resident is $0 a year. The US average is $69,021 a year.