Montgomery, IN is a small town in Indiana with a population of 3,625. The cost of living is low as evidenced by the 2 bedroom rent price at $870 which is almost $560 less than the US average. Grocery shopping is also more affordable with a Grocery Cost Index of 95 versus 100 in the US. It's an ideal place for those looking for a budget-friendly option who don't want to sacrifice on quality of life. Montgomery, IN offers plenty of local businesses such as M&M Floor Covering Company, Montgomery Automotive & Heavy Equipment Repair LLC, Hilltop Antique Mall Inc., and Hometown Woodshop & Upholstery. Despite its small size, Montgomery provides its citizens with all the necessary amenities found in larger cities throughout America.
Montgomery has an unemployment rate of 3.0%. The US average is 6.0%.
Montgomery has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 34.8%, which is higher than the US average of 33.5%.
Tax Rates for Montgomery
- The Sales Tax Rate for Montgomery is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Montgomery 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 Montgomery
- The average income of a Montgomery resident is $21,885 a year. The US average is $28,555 a year.
- The Median household income of a Montgomery resident is $74,583 a year. The US average is $69,021 a year.