62707 Springfield, IL is home to many local companies and a bustling market. Companies like Illinois National Bank and Horace Mann are headquartered in the area, providing excellent employment opportunities for locals. The vibrant downtown area of Springfield is full of great shopping opportunities. From clothing stores to jewelry shops, there is something for everyone at the downtown market. Additionally, people living in 62707 Springfield can find plenty of restaurants and cafes as well as parks and outdoor spaces to enjoy picnics or leisurely strolls. With an average 2 bedroom rent cost of $910 compared to the US average of $1,430 it's a great place for those looking for affordable housing options. The Grocery Cost Index for 62707 Springfield is 94 versus 100 in the US making groceries more cost effective too!
Springfield (zip 62707) has an unemployment rate of 7.1%. The US average is 6.0%.
Springfield (zip 62707) 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 62707)
- The Sales Tax Rate for Springfield (zip 62707) is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Springfield (zip 62707) 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 62707)
- The average income of a Springfield (zip 62707) resident is $41,123 a year. The US average is $37,638 a year.
- The Median household income of a Springfield (zip 62707) resident is $81,346 a year. The US average is $69,021 a year.