In 61101 Rockford, IL the cost of living is relatively low compared to the US average. The average 2 bedroom rent is around $880 while the national average is $1,430, and the grocery cost index in 61101 Rockford IL is 87 versus 100 in the US. Local companies include Woodward Inc., which manufactures control solutions for aircraft, land-based turbines and other industrial applications, as well as Barber-Colman Company which specializes in automation systems and machine tools. Other local businesses include SupplyCore, a supply chain management company that provides logistics services; and AAR Corporation providing specialized maintenance services for jet engines.
Rockford (zip 61101) has an unemployment rate of 8.1%. The US average is 6.0%.
Rockford (zip 61101) has seen the job market decrease by -9.1% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Rockford (zip 61101)
- The Sales Tax Rate for Rockford (zip 61101) is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Rockford (zip 61101) 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 Rockford (zip 61101)
- The average income of a Rockford (zip 61101) resident is $20,686 a year. The US average is $37,638 a year.
- The Median household income of a Rockford (zip 61101) resident is $40,374 a year. The US average is $69,021 a year.