Colchester, IL is a small village located in McDonough County with a population of 62326 according to the latest census. The average rent for a two-bedroom apartment here is $730, which is much lower than the US average of $1,430. It also has an affordable grocery cost index of 90 versus 100 in the US.
For those looking for job opportunities in Colchester, IL there are many different local companies offering employment. These include businesses such as First Bankers Trust Co., Colchester Farmers Elevator Co., Ipava State Bank, and M & T Grain Inc. All these businesses have been operational in the local area for many years providing jobs while helping develop the economy of Colchester, IL.
Colchester (zip 62326) has an unemployment rate of 5.3%. The US average is 6.0%.
Colchester (zip 62326) has seen the job market decrease by -7.4% over the last year. Future job growth over the next ten years is predicted to be 16.6%, which is lower than the US average of 33.5%.
Tax Rates for Colchester (zip 62326)
- The Sales Tax Rate for Colchester (zip 62326) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Colchester (zip 62326) is 5.0%. The US average is 4.6%.
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Income and Salaries for Colchester (zip 62326)
- The average income of a Colchester (zip 62326) resident is $25,788 a year. The US average is $37,638 a year.
- The Median household income of a Colchester (zip 62326) resident is $46,932 a year. The US average is $69,021 a year.