Versailles, IN is a small, rural town located in southeastern Indiana. It is known for its lush rolling hills and breathtaking countryside views. The cost of living in Versailles is relatively low compared to the rest of the country. The average rent for a two bedroom apartment is $870 per month and the grocery cost index is 96 versus 100 in the US. Given these low costs of living, many people have chosen to move to Versailles and live there permanently. \nThe town's economy largely relies on agriculture, specifically grains and livestock production, as well as manufacturing companies such as Knapheide Manufacturing Company and Koester Construction Products Inc. Additionally, Versailles is home to several stores like Walmart and Dollar General that provide jobs and help fuel the local economy. All of these businesses employ many people from the town helping it thrive economically.
Versailles has an unemployment rate of 3.9%. The US average is 6.0%.
Versailles has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 34.3%, which is higher than the US average of 33.5%.
Tax Rates for Versailles
- The Sales Tax Rate for Versailles is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Versailles is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Versailles
- The average income of a Versailles resident is $19,303 a year. The US average is $28,555 a year.
- The Median household income of a Versailles resident is $38,036 a year. The US average is $69,021 a year.