The small city of Palmyra, IL (Zip code 62674) is an affordable option for those looking to rent or buy a home. The 2 bedroom rent cost in Palmyra is only $800 per month compared to the U.S. average of $1,430; making it a great bargain for those on a budget. There are plenty of local grocery stores around this small town such as Aldi Supermarket, Save-A-Lot, and County Market which offer groceries at even lower rates due to their Grocery Cost Index score of 91 compared to the 100 score in the US. For anyone looking to save money on rent and groceries without sacrificing quality or convenience, Palmyra is an ideal location.
Palmyra (zip 62674) has an unemployment rate of 5.0%. The US average is 6.0%.
Palmyra (zip 62674) has seen the job market decrease by -6.9% over the last year. Future job growth over the next ten years is predicted to be 30.4%, which is lower than the US average of 33.5%.
Tax Rates for Palmyra (zip 62674)
- The Sales Tax Rate for Palmyra (zip 62674) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Palmyra (zip 62674) 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 Palmyra (zip 62674)
- The average income of a Palmyra (zip 62674) resident is $20,714 a year. The US average is $37,638 a year.
- The Median household income of a Palmyra (zip 62674) resident is $38,221 a year. The US average is $69,021 a year.