Sangamon County · Illinois · Midwest · 113k residents
Springfield, IL: economy, jobs & business costs
The site-selection read on Springfield: labor costs, talent, corporate tax, energy, and business activity, with the Illinois median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,398/wk. Illinois's corporate income tax rate is 9.5%. Commercial electricity averages 11.8¢/kWh.
Compare Springfield side by side
Avg. weekly wage
$1,398/wk
Corporate income tax
9.5%
Bachelor's degree or higher
36.3%
Commercial electricity
11.8¢/kWh
Economic momentum
How fast Springfield's economy is moving, ranked against the US cities we track.
38/100
Steady
Ranks Springfield's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $162,100 |
| Price per sq. ft. | $175 |
| Property tax rate | 2.1% |
| 1-bedroom rent | $765/mo |
| 2-bedroom rent | $997/mo |
| State & local income tax | 4.95% |
| Sales tax | 8.85% |
| Corporate income tax | 9.5% |
| Avg. weekly wage | $1,398/wk |
| Bachelor's degree or higher | 36.3% |
| Commercial electricity | 11.8¢/kWh |
| Businesses per 1k residents | 25.6/1k |
| Wage: Software developer | $104,550 |
| Wage: Registered nurse | $84,220 |
| Wage: General manager | $95,990 |
| Wage: Customer service | $40,230 |
| Wage: Warehouse worker | $34,770 |
| Wage: Heavy truck driver | $50,350 |
| Wage: Electrician | $84,780 |
| Wage: Retail salesperson | $33,450 |
| Cost of living index | 82 |
| Groceries index | 98 |
| Utilities | $165/mo |
| Transit pass | $75/mo |
| Gas price | $3.65/gal |
| Healthcare index | 98 |
| Childcare (per child) | $1,300/mo |
| Median household income | $66,064 |
| Unemployment rate | 4.7% |
| Population | 113k |
| Crime index | 50/100 |
| School rating | 6.3/10 |
| Walkability | 38/100 |
| Disaster risk | 92/100 |
| Avg. commute | 29 min |
| Sunny days / year | 190 days |
| July high | 86°F |
| January low | 19°F |
| Annual snowfall | — |
| Home price YoY | +8.3% |
| Home price MoM | +0.1% |
| Rent YoY | +6.8% |
| Rent MoM | +0.7% |
| Employment (jobs) YoY | -2.6% |
| Building permits YoY | +67.8% |
| Ocean coast | 653 mi |
| Big lake | 176 mi |
| Mountains | 165 mi |
| Major airport | 82 mi |
| Ski resort | 103 mi |
Popular comparisons
Nearby
- Jacksonville, IL · 18k
- Decatur, IL · 70k
- Pekin, IL · 32k
- Morton, IL · 17k
- Bloomington, IL · 79k
Similar size
- Peoria, IL · 112k
- Elgin, IL · 115k
- Champaign, IL · 90k
- Waukegan, IL · 89k
- Cicero, IL · 83k
Real listings in Springfield
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Springfield a good place to run a business?
- Illinois's corporate income tax rate is 9.5%; average weekly wages in the surrounding labor market run $1,398/wk; commercial electricity averages 11.8¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Springfield, IL?
- Springfield indexes at 82 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $997/mo and a acs median home value of $162,100.
- How much does a house cost in Springfield?
- The acs median home value in Springfield is $162,100 (Census ACS estimate; individual listings vary).
- How much is rent in Springfield?
- A two-bedroom in Springfield rents for about $997/mo.