The small village of Newman, IL (zip code 61942) is a great place to live with an average two bedroom rent of $720 and a grocery cost index of 91 versus 100 in the US. The low cost of living in Newman makes it attractive for people looking for a budget-friendly lifestyle. There are many local companies that provide services such as retail stores, restaurants, banks and gas stations. The major employers around the area include Cargill Inc., Evergreen FS and Peterson Farms Seed Company along with many other small businesses. This quaint village is an ideal spot for those looking for an affordable way of life while still being connected to all the amenities that a big city would offer.
Newman (zip 61942) has an unemployment rate of 3.9%. The US average is 6.0%.
Newman (zip 61942) has seen the job market decrease by -4.6% over the last year. Future job growth over the next ten years is predicted to be 30.5%, which is lower than the US average of 33.5%.
Tax Rates for Newman (zip 61942)
- The Sales Tax Rate for Newman (zip 61942) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Newman (zip 61942) 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 Newman (zip 61942)
- The average income of a Newman (zip 61942) resident is $31,494 a year. The US average is $37,638 a year.
- The Median household income of a Newman (zip 61942) resident is $65,926 a year. The US average is $69,021 a year.