Somerville, IN is a small town located in the Midwestern United States. It is known for its peaceful atmosphere, with many local businesses and attractions providing plenty to do. The cost of living in Somerville is quite affordable compared to the national average. For example, the average rent for a two-bedroom apartment is $1,000 per month while the national average is $1,430. Additionally, the Grocery Cost Index in Somerville is 90 versus 100 in the US. There are many popular companies that call Somerville home such as Intersphere Technologies, Inc., Foxsmith Supply Co., and AnjiTech Solutions. All of these businesses bring unique services and job opportunities to this city which helps to make it an attractive place to live.
Somerville has an unemployment rate of 3.4%. The US average is 6.0%.
Somerville has seen the job market increase by 2.2% 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 Somerville
- The Sales Tax Rate for Somerville is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Somerville is 3.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Somerville
- The average income of a Somerville resident is $17,398 a year. The US average is $28,555 a year.
- The Median household income of a Somerville resident is $57,917 a year. The US average is $69,021 a year.