Collinsville, IL 62234 is a city in Madison County that has a population of 25,579 people as of 2019. The median two bedroom rent in this thriving community is $1,010 per month, which is significantly less than the median two bedroom rent of $1,430 for the United States. Additionally, the Grocery Cost Index in Collinsville is 95 versus 100 for the US as a whole.
The cost of living in Collinsville is primarily influenced by its diverse local businesses. Notable employers in Collinsville include Phillips 66 Oil Refinery, Schnuck Markets Inc., Gateway Convention Center and Pepsi MidAmerica. Other big names such as Amazon and AT&T have distribution centers located just outside the city limits. \n \nThe presence of these large organizations contributes greatly to economic stability for residents and results in lower costs for goods and services throughout Collinsville. This makes Collinsville an attractive place to settle down with affordable housing and grocery costs while still being near to quality job opportunities and entertainment venues.
Collinsville (zip 62234) has an unemployment rate of 5.4%. The US average is 6.0%.
Collinsville (zip 62234) has seen the job market decrease by -6.8% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Collinsville (zip 62234)
- The Sales Tax Rate for Collinsville (zip 62234) is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Collinsville (zip 62234) 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 Collinsville (zip 62234)
- The average income of a Collinsville (zip 62234) resident is $35,288 a year. The US average is $37,638 a year.
- The Median household income of a Collinsville (zip 62234) resident is $63,111 a year. The US average is $69,021 a year.