Rockford, IL is a great city to live in. The rent for a two-bedroom apartment is quite affordable at $940, versus the national average of $1,430. Additionally, the Grocery Cost Index in Rockford is 90 compared to 100 nationwide. There are many notable companies in Rockford such as Woodward Inc., Ingersoll Rand, and Automotive Components Holdings. Woodward Inc. is an aerospace and industrial components manufacturer that has been around since 1870. Ingersoll Rand specializes in industrial tools and equipment while Automotive Components Holdings manufactures automotive parts for both commercial and industrial vehicles. With its friendly people and affordable living costs, Rockford is certainly an attractive place to live or work!
Rockford has an unemployment rate of 10.1%. The US average is 6.0%.
Rockford has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 21.9%, which is lower than the US average of 33.5%.
Tax Rates for Rockford
- The Sales Tax Rate for Rockford is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Rockford 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 Rockford
- The average income of a Rockford resident is $21,615 a year. The US average is $28,555 a year.
- The Median household income of a Rockford resident is $47,002 a year. The US average is $69,021 a year.