Shumway, IL (zip code 62461) is a small town with a population of just over 200 people located in the state of Illinois. The median 2 bedroom rent here is much lower than the US average at only $800 compared to $1,430. This can offer significant savings for renters looking for a budget-friendly place to live. Additionally, the Grocery Cost Index in Shumway is 96 as opposed to 100 in the US which can further help reduce costs related to living expenses such as groceries.
Living in Shumway comes with some added bonuses such as access to local companies providing essential services. Some of these include K & R Salvage Services LLC, Esposito's General Store & Cafe, and Henson Electric Incorporated. Residents of this small town benefit from having nearby businesses that provide necessary items and services at reasonable prices while also supporting the local economy.
The low rent and grocery costs combined with easy access to local businesses make Shumway an attractive option for those looking for a cost-effective place to live. For those on a budget, they can enjoy the perks of living in a small community without breaking their bank account each month or having difficulty finding necessary items or services within their area.
Shumway (zip 62461) has an unemployment rate of 4.5%. The US average is 6.0%.
Shumway (zip 62461) has seen the job market decrease by -4.1% over the last year. Future job growth over the next ten years is predicted to be 35.6%, which is higher than the US average of 33.5%.
Tax Rates for Shumway (zip 62461)
- The Sales Tax Rate for Shumway (zip 62461) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Shumway (zip 62461) 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 Shumway (zip 62461)
- The average income of a Shumway (zip 62461) resident is $38,069 a year. The US average is $37,638 a year.
- The Median household income of a Shumway (zip 62461) resident is $61,250 a year. The US average is $69,021 a year.