Bedford, IN is a great place to live! With an average two-bedroom rent of $1,270, it's more affordable than the national rate of $1,430. There are also lower grocery costs in Bedford compared to the rest of the United States, with a grocery cost index of 93 versus 100. The local economy is driven by several well-known companies such as Stone City Products Inc., General Motors Powertrain, and The Hillenbrand Corporation. These companies help employ many Bedford locals and provide services for residents including manufacturing automotive parts for the global market or producing consumer products for everyday use. Additionally they contribute to tax revenue which helps fund necessary community projects like educational programs and road construction projects. This strong presence in Bedford’s economy ensures job security and stability for its citizens.
Bedford has an unemployment rate of 4.7%. The US average is 6.0%.
Bedford has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 34.2%, which is higher than the US average of 33.5%.
Tax Rates for Bedford
- The Sales Tax Rate for Bedford is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Bedford 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 Bedford
- The average income of a Bedford resident is $21,708 a year. The US average is $28,555 a year.
- The Median household income of a Bedford resident is $45,208 a year. The US average is $69,021 a year.