Zip 61103 (Rockford, IL) Economy


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Rockford, IL is a great place to live, especially for those looking for more affordable housing options. The 2 bedroom rent in Rockford, IL is $940 which is much lower than the US average of $1,430. In addition to more affordable rent prices, Rockford also offers residents cost savings when it comes to groceries with a grocery cost index of 89 compared to the US average of 100. Residents can take advantage of local businesses such as Schnuck's Grocery Store on East State Street and Burritt's Fresh Market on North Main Street for their grocery needs. For outdoor activities, there are plenty of parks including Sinnissippi Park and Rock Cut State Parks. Other local companies that offer employment opportunities include American Blower Motor Co Inc., National Breast Cancer Coalition Fund Inc., and Anderson Japanese Gardens.

Rockford (zip 61103) has an unemployment rate of 10.1%. The US average is 6.0%.

Rockford (zip 61103) 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 21.9%, which is lower than the US average of 33.5%.

Tax Rates for Rockford (zip 61103)
- The Sales Tax Rate for Rockford (zip 61103) is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Rockford (zip 61103) 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 61103)
- The average income of a Rockford (zip 61103) resident is $25,919 a year. The US average is $37,638 a year.
- The Median household income of a Rockford (zip 61103) resident is $43,934 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyRockford, IllinoisUnited States
  10.16
  -9.1%-6.2%
  21.9%33.5%
  8.3%6.2%
  5.0%4.6%
  $25,919$37,638
  $43,934$69,021
  $57,880$85,028
  Population by Occupation
  0.2%1.2%
  0.1%0.5%
  4.2%6.8%
  19.6%10.0%
  2.0%2.5%
  12.9%11.0%
  5.2%4.8%
  1.2%0.8%
  1.5%1.9%
  2.8%4.7%
  1.9%1.9%
  4.2%7.6%
  0.0%0.1%
  4.7%4.2%
  6.0%9.3%
  16.7%14.0%
  1.7%2.1%
  6.6%7.0%
  5.8%4.8%
  2.4%4.7%
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