Shannon, IL is a small village located in the 61078 zip code with a population of just under 2,000 people. This quaint village offers its residents a low cost of living while still providing plenty of amenities for its citizens to enjoy. The average two bedroom rent in Shannon is remarkably lower than the national average, coming in at $780 per month compared to the US average of $1,430. Similarly, the Grocery Cost Index for Shannon is 92 versus 100 for the US as a whole.
Shannon has several local companies that contribute to its economy including Pegasus Solutions Group which provides software solutions for businesses, WKID Roofing which offers residential and commercial roofing services, and Stembridge Remodeling which specializes in interior remodeling projects. These businesses help make Shannon an ideal place to live or work due to their low cost of living and convenient access to amenities.
Shannon (zip 61078) has an unemployment rate of 5.7%. The US average is 6.0%.
Shannon (zip 61078) has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 16.4%, which is lower than the US average of 33.5%.
Tax Rates for Shannon (zip 61078)
- The Sales Tax Rate for Shannon (zip 61078) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Shannon (zip 61078) 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 Shannon (zip 61078)
- The average income of a Shannon (zip 61078) resident is $26,767 a year. The US average is $37,638 a year.
- The Median household income of a Shannon (zip 61078) resident is $64,167 a year. The US average is $69,021 a year.