Newark, IL with a zip code of 60541 is a town located in Grundy County. The estimated population is 870 people. The 2019 median 2 bedroom rent in Newark is $1,140 which is lower than the United States average of $1,430. This makes Newark an attractive option for those looking for a place to live. In addition, Newark’s Grocery Cost Index stands at 99 versus 100 in the US; meaning groceries will be more affordable here than most other cities and towns in the U.S.. Newark is home to several businesses including Joe’s Towing & Recovery Inc., Lidkea Farms Inc., Grand Ridge Foods LLC, DMJ Builders Inc., etc. Overall, living in Newark comes with a lower cost of living than many other cities and towns in the US making it an attractive option for those looking for somewhere to settle down.
Newark (zip 60541) has an unemployment rate of 5.8%. The US average is 6.0%.
Newark (zip 60541) has seen the job market decrease by -9.5% over the last year. Future job growth over the next ten years is predicted to be 30.3%, which is lower than the US average of 33.5%.
Tax Rates for Newark (zip 60541)
- The Sales Tax Rate for Newark (zip 60541) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Newark (zip 60541) 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 Newark (zip 60541)
- The average income of a Newark (zip 60541) resident is $38,576 a year. The US average is $37,638 a year.
- The Median household income of a Newark (zip 60541) resident is $97,472 a year. The US average is $69,021 a year.