Coal Valley, IL, located in the 61240 zip code, is a great place to live for those who want to save money. The average two-bedroom rent for this area is $1,350 which is significantly lower than the US average of $1,430. Additionally, the cost of groceries in this area is much lower than elsewhere with an index score of 98 compared to the US average of 100. This makes Coal Valley a great place for families on a budget.
The local economy in Coal Valley is booming and residents have access to many stores and restaurants nearby. Popular businesses include Hy-Vee Grocery Store which provides quality products at affordable prices as well as Subway and Dairy Queen for quick meals and snacks. Furthermore, there are plenty of parks and recreational activities available such as Middle Park Golf Course which offers 18 challenging holes or Sandpiper Pool with its outdoor waterpark atmosphere. All these amenities make Coal Valley not only a welcoming community but an economically sound one as well.
Coal Valley (zip 61240) has an unemployment rate of 6.6%. The US average is 6.0%.
Coal Valley (zip 61240) has seen the job market decrease by -7.7% over the last year. Future job growth over the next ten years is predicted to be 26.4%, which is lower than the US average of 33.5%.
Tax Rates for Coal Valley (zip 61240)
- The Sales Tax Rate for Coal Valley (zip 61240) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Coal Valley (zip 61240) 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 Coal Valley (zip 61240)
- The average income of a Coal Valley (zip 61240) resident is $45,969 a year. The US average is $37,638 a year.
- The Median household income of a Coal Valley (zip 61240) resident is $90,687 a year. The US average is $69,021 a year.