Quincy, IL has a low cost of living with extremely affordable housing options. The city's housing index is 58, which is 42 percent lower than the national average. Housing expenses in Quincy are about 45 percent lower than the state average.
Overall, Quincy's cost of living index is 83, making it 17 percent cheaper than the national average and 16 percent cheaper than the state average.
According to the 2010 Census, the median household income in Quincy is $30,956. The per capita income is $17,479. About 12 percent of the city's residents live at or below the poverty line.
Quincy, IL Job Opportunities
Several major corporations have headquarters in the Quincy area. Some of the city's most prominent employers include Neimann Foods, Titan Wheel, and the Knapheide Manufacturing Company. These businesses help create jobs for machine workers, factory managers, and sales professionals.
Quincy Public Schools is one of the city's largest employers. The public school system creates jobs for teachers, bus drivers, and administrators. It also helps prepare young residents for future job opportunities in the Quincy area.
Quincy, IL Employment Trends
Like most cities, Quincy's unemployment rate increased significantly during the Great Recession. It has, however, nearly returned to its pre-recession rate.
In April 2007, Quincy had a 3.5 percent unemployment rate. Unemployment began increasing near the end of October. By February 2010, Quincy reached 9.9 percent unemployment, which was slightly lower than the state's unemployment rate. Employment trends started improving after this peak. By April 2015, Quincy's unemployment rate had fallen to 4.4 percent while the state had a 6 percent unemployment rate.
The relative employment stability is likely the result of efforts to connect the city to regional metropolitan areas, including Chicago, St. Louis, and Kansas City. These efforts have been spearheaded by the Great River Economic Development Foundation.