Springfield, IL with a zip code of 62704 is located in the state of Illinois and is the capital city. It has a population of 116,250 and rental costs for a 2 bedroom home are slightly lower than the national average at $960. The Grocery Cost Index for Springfield is also less than that of the US, at 94 instead of 100. Springfield is home to several businesses including Memorial Health System, Midwest Foods, Springfield Clinic and Horace Mann Insurance. The University of Illinois-Springfield also offers students and professors an array of opportunities to pursue higher education.
Springfield (zip 62704) has an unemployment rate of 7.1%. The US average is 6.0%.
Springfield (zip 62704) has seen the job market decrease by -7.4% 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 62704)
- The Sales Tax Rate for Springfield (zip 62704) is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Springfield (zip 62704) 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 62704)
- The average income of a Springfield (zip 62704) resident is $38,235 a year. The US average is $37,638 a year.
- The Median household income of a Springfield (zip 62704) resident is $58,357 a year. The US average is $69,021 a year.