Speedway, Indiana is a vibrant city located in Marion County with a population of 12,081 according to the 2019 US Census. It is home to many well-known companies such as Rolls Royce Corporation and Allison Transmission. The economy of Speedway is mainly driven by the automotive industry, due to these large companies and their production capabilities. The cost of living in Speedway is quite reasonable with a 2 bedroom rent of $950 compared to the US average of $1,430. Grocery costs are also slightly lower than other cities around the country with an index of 93 in comparison to 100 elsewhere in America. Speedway has something for everyone and provides great job opportunities for its citizens.
Speedway has an unemployment rate of 5.6%. The US average is 6.0%.
Speedway has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Speedway
- The Sales Tax Rate for Speedway is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Speedway is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Speedway
- The average income of a Speedway resident is $24,786 a year. The US average is $28,555 a year.
- The Median household income of a Speedway resident is $49,044 a year. The US average is $69,021 a year.