Wolf Lake, IL is an amazing place to live. With a population just under 600, it's a small yet vibrant town with plenty of local companies, restaurants, and parks to explore. A two bedroom rental in Wolf Lake costs $710 per month making it much more affordable than the US average of $1,430. Additionally, the grocery cost index in Wolf Lake is 92 versus 100 in the US which makes food more accessible to residents.
Local businesses and restaurants include Lou Lou’s Pizza & Pasta House and Bill’s Locker Room Bar & Grill for great dining experiences. For shopping needs there is Quality Market & Video Rentals or Dave’s Auto Repair and Supply.
Wolf Lake also has plenty of outdoor activities with its many parks including Nellie Park offering a playground for children as well as a picnic area and group pavilion; Fisherman Park with fishing access as well as basketball courts; Freedom Valley Park with its walking trail along the Kishwaukee River; and Peterson Park which features a ball field, sand volleyball court and picnic areas.
Wolf Lake (zip 62998) has an unemployment rate of 6.7%. The US average is 6.0%.
Wolf Lake (zip 62998) has seen the job market decrease by -6.5% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Wolf Lake (zip 62998)
- The Sales Tax Rate for Wolf Lake (zip 62998) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Wolf Lake (zip 62998) 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 Wolf Lake (zip 62998)
- The average income of a Wolf Lake (zip 62998) resident is $40,763 a year. The US average is $37,638 a year.
- The Median household income of a Wolf Lake (zip 62998) resident is $51,111 a year. The US average is $69,021 a year.