The small town of Savoy, IL (zip code 61874) offers residents a quiet respite from busy city living. With a population of around 7,800, it's an ideal place for those looking for some peace and quiet. The 2 bedroom rent in Savoy is a reasonable $1,030 which is much lower than the US average of $1,430. Additionally, the Grocery Cost Index in Savoy is 100 compared to the national average of 100 which makes it an affordable place to live. Not to mention that there are plenty of local businesses in Savoy to shop at or work for – including two popular supermarkets (County Market and Walmart Supercenter), several restaurants (Animal Crackers Cafe and DQ Grill & Chill Restaurant), multiple banks (First Mid-Illinois Bank & Trust and Busey Bank), and various retail outlets like Gander Outdoors and 5 Star Nutrition.
Savoy (zip 61874) has an unemployment rate of 5.0%. The US average is 6.0%.
Savoy (zip 61874) 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 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Savoy (zip 61874)
- The Sales Tax Rate for Savoy (zip 61874) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Savoy (zip 61874) 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 Savoy (zip 61874)
- The average income of a Savoy (zip 61874) resident is $41,855 a year. The US average is $37,638 a year.
- The Median household income of a Savoy (zip 61874) resident is $78,179 a year. The US average is $69,021 a year.