Newton, IL (zip code 62448) has an average 2 bedroom rent of $700, which is significantly less that the national average of $1,430. Likewise, the Grocery Cost Index in Newton is 92 versus 100 in the US. For those seeking affordable living while maintaining their career aspirations, Newton offers a variety of local business opportunities. The town's economy is largely supported by companies such as Impressions Printing & Graphics, which specializes in custom apparel and printing services; Newton Antique Mall, offering antiques and collectibles for sale; and Heartland Bank & Trust Company, providing personal banking solutions. Besides these businesses, other notable companies in Newton include Mowrey Elevator Company Inc., a grain storage and handling firm; Country Comfort Heating & Air Conditioning Inc., a heating and air conditioning provider; and Bayles Leather Upholstering Co., a manufacturer of leather goods.
Newton (zip 62448) has an unemployment rate of 5.2%. The US average is 6.0%.
Newton (zip 62448) has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 24.6%, which is lower than the US average of 33.5%.
Tax Rates for Newton (zip 62448)
- The Sales Tax Rate for Newton (zip 62448) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Newton (zip 62448) 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 Newton (zip 62448)
- The average income of a Newton (zip 62448) resident is $29,216 a year. The US average is $37,638 a year.
- The Median household income of a Newton (zip 62448) resident is $56,596 a year. The US average is $69,021 a year.