Waynetown, IN is a small town located in the Midwest that offers an affordable cost of living. The average rent for a two-bedroom apartment is $870, which is significantly lower than the US average of $1430. Additionally, the Grocery Cost Index in Waynetown is 92 versus 100 in the US, making groceries more affordable for residents. The local economy of Waynetown is driven by companies such as Rembrandt Foods, Beck’s Hybrids, and Heartland Automotive Services. These three companies collectively employ over 500 people in the area and offer diverse employment opportunities to the people of Waynetown. This strong job market helps fuel economic growth throughout the city and ensures that the people of Waynetown can continue to enjoy their low cost of living while maintaining financial stability.
Waynetown has an unemployment rate of 3.6%. The US average is 6.0%.
Waynetown has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Waynetown
- The Sales Tax Rate for Waynetown is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Waynetown is 5.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Waynetown
- The average income of a Waynetown resident is $23,617 a year. The US average is $37,638 a year.
- The Median household income of a Waynetown resident is $54,167 a year. The US average is $69,021 a year.