61864 Philo, IL is located in Champaign County and is home to many small businesses including the Philo Cafe, The Ugly Muffin Bakery & Café, and Joe's Place Pub & Grill. It is a great place to live with an affordable cost of living. The average two bedroom rent in 61864 Philo, IL is $1,010 which is significantly lower than the US average 2 bedroom rent of $1,430. Additionally, the Grocery Cost Index in 61864 Philo, IL stands at 96 compared to 100 in the US which further adds to its affordability. Therefore 61864 Philo, IL proves itself as one of the best places to live due to its low cost of living and local businesses.
Philo (zip 61864) has an unemployment rate of 5.0%. The US average is 6.0%.
Philo (zip 61864) has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Philo (zip 61864)
- The Sales Tax Rate for Philo (zip 61864) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Philo (zip 61864) 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 Philo (zip 61864)
- The average income of a Philo (zip 61864) resident is $33,648 a year. The US average is $37,638 a year.
- The Median household income of a Philo (zip 61864) resident is $83,304 a year. The US average is $69,021 a year.