62983 Royalton, IL is a small town of 2,918 people located in Franklin County. The town is known for its low cost of living with an average two bedroom rental costing only $680 compared to the US average of $1,430. Grocery costs are also significantly lower than the US average with a grocery cost index of 90 compared to 100 in the US. Local companies such as B&H Agri Service Inc., Riverside Auto Repair, and Royalton Lumber & Grain Co. have been thriving for years due to the low cost of living and strong local economy. Residents benefit from having access to necessary amenities without breaking their budget.
Royalton (zip 62983) has an unemployment rate of 7.2%. The US average is 6.0%.
Royalton (zip 62983) has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Royalton (zip 62983)
- The Sales Tax Rate for Royalton (zip 62983) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Royalton (zip 62983) 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 Royalton (zip 62983)
- The average income of a Royalton (zip 62983) resident is $27,729 a year. The US average is $37,638 a year.
- The Median household income of a Royalton (zip 62983) resident is $45,625 a year. The US average is $69,021 a year.