Urbana, IL 61802 is a great place to call home with its diverse culture, friendly people, and far lower than average costs of living. The average 2 bedroom rent in Urbana is $1,010 which is nearly 30% less than the national average for the same type of rental. This makes it much more affordable to live in this area compared to other places. Additionally, grocery prices index is significantly lower compared to the US at 95 instead of 100. There are many local companies that make up Urbana's economy such as K&H Machining Inc., Illini Radio Group, Savoy 16 Movie Theatre and SBL Contracting Group Inc. All provide quality services or products that contribute to the city's economy and help make it a great place to live. In conclusion, Urbana is a wonderful place with plenty of opportunities at a fraction of the cost you would expect elsewhere.
Urbana (zip 61802) has an unemployment rate of 4.5%. The US average is 6.0%.
Urbana (zip 61802) has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 29.2%, which is lower than the US average of 33.5%.
Tax Rates for Urbana (zip 61802)
- The Sales Tax Rate for Urbana (zip 61802) is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Urbana (zip 61802) 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 Urbana (zip 61802)
- The average income of a Urbana (zip 61802) resident is $33,686 a year. The US average is $37,638 a year.
- The Median household income of a Urbana (zip 61802) resident is $52,138 a year. The US average is $69,021 a year.