62702 Springfield, IL is a great option for those seeking a more budget-oriented lifestyle. With two bedroom rent prices sitting at $910 per month compared to the US average of $1,430, you can live comfortably without breaking the bank. The Grocery Cost Index in 62702 is also 91 versus 100 in the US, making grocery costs more affordable as well.
The city of Springfield is home to several large businesses including Horace Mann Insurance Company and State of Illinois Department of Human Services. Additionally there are many smaller companies like S&S Tire Center and LRS Healthcare that provide employment opportunities for the citizens of Springfield.
With plenty of job opportunities available and relatively low cost of living, Springfield offers an attractive lifestyle to its residents. Residents enjoy getting out and about in downtown Springfield with attractions such as Washington Park Zoo and the Dana Thomas House Museum. Outdoor lovers will appreciate a plethora of hiking trails located nearby as well!
Springfield (zip 62702) has an unemployment rate of 7.1%. The US average is 6.0%.
Springfield (zip 62702) has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 22.1%, which is lower than the US average of 33.5%.
Tax Rates for Springfield (zip 62702)
- The Sales Tax Rate for Springfield (zip 62702) is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Springfield (zip 62702) 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 Springfield (zip 62702)
- The average income of a Springfield (zip 62702) resident is $23,000 a year. The US average is $28,555 a year.
- The Median household income of a Springfield (zip 62702) resident is $46,543 a year. The US average is $69,021 a year.