Shoals, IN is a great place to live with a low cost of living. The average two bedroom rent in Shoals, IN is $800, while the same rent in the US is $1,430. This lower rent reflects the overall lower cost of living in this area. Grocery Cost Index in Shoals, IN is 91 versus 100 in the US which adds to its appeal. Local companies such as Applecross Industries Inc., Crone's Welding & Fabrication Inc., and Morrison Supply Company are thriving businesses that contribute to the local economy. With low housing costs and an array of job opportunities, Shoals, IN offers residents a comfortable lifestyle at an affordable price.
Shoals has an unemployment rate of 3.3%. The US average is 6.0%.
Shoals has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 34.3%, which is higher than the US average of 33.5%.
Tax Rates for Shoals
- The Sales Tax Rate for Shoals is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Shoals is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Shoals
- The average income of a Shoals resident is $16,107 a year. The US average is $28,555 a year.
- The Median household income of a Shoals resident is $35,313 a year. The US average is $69,021 a year.