Lowell, IN is a quaint town in Northern Indiana. It is known for its charming and historic downtown area with plenty of shops, restaurants and businesses to explore. Home to a population of around 8,000 people, Lowell offers a range of affordable housing options compared to other cities in the US. The average two bedroom rent rate is $1,170 per month – significantly lower than the national average of $1,430. Additionally, grocery costs are also much lower than the US index at 97 versus 100. Local businesses and organizations in Lowell include Steel Technologies LLC, K&K Equipment Inc., Western & Southern Life Insurance Company and the Greater Lowell Chamber of Commerce who all help keep the local economy thriving.
Lowell has an unemployment rate of 7.6%. The US average is 6.0%.
Lowell has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Lowell
- The Sales Tax Rate for Lowell is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lowell is 3.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lowell
- The average income of a Lowell resident is $23,221 a year. The US average is $28,555 a year.
- The Median household income of a Lowell resident is $71,463 a year. The US average is $69,021 a year.