Smithfield, IL is an affordable place to live with a 2 bedroom rent of $860, which is much lower than the US average at $1,430. Groceries are also more affordable in Smithfield with a grocery cost index of 93 compared to 100 across the US. Within the town there are plenty of local businesses and shops to explore. The main employers in Smithfield include Smithfield Foods, Walmart Supercenter, McDonald's and Speedway LLC. There are also many unique independent stores such as Main Street Boutique, Smithfield Thrift Store and Green Plate Cafe that provide the local community with great services and products.
Smithfield has an unemployment rate of 6.6%. The US average is 6.0%.
Smithfield has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 21.1%, which is lower than the US average of 33.5%.
Tax Rates for Smithfield
- The Sales Tax Rate for Smithfield is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Smithfield 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 Smithfield
- The average income of a Smithfield resident is $21,118 a year. The US average is $28,555 a year.
- The Median household income of a Smithfield resident is $53,125 a year. The US average is $69,021 a year.