Monroe, IN is an affordable place to live with the average 2 bedroom rent being $750 compared to the US average of $1,430. It is also home to many companies that contribute significantly to the local economy. Companies such as Monroe Manufacturing and Monroe Drive-In Theater have been part of the community for decades. Monroe Manufacturing specializes in custom metal fabrication while Monroe Drive-In Theater is a popular spot for entertainment. Both companies provide jobs for the local population and keep up with modern trends by investing in new technology. Prices for groceries are also relatively low compared to other cities at 93 on the index versus the national 100 rate. With its relatively low cost of living and vibrant businesses, Monroe, IN is an ideal place to call home.
Monroe has an unemployment rate of 3.0%. The US average is 6.0%.
Monroe has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Monroe
- The Sales Tax Rate for Monroe is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Monroe is 4.4%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Monroe
- The average income of a Monroe resident is $20,760 a year. The US average is $28,555 a year.
- The Median household income of a Monroe resident is $62,188 a year. The US average is $69,021 a year.