Algona, Iowa is a small town with a population of around 5,000 people. It is located in the northwestern part of the state and enjoys its rural setting. The cost of living in Algona is notably lower than the national average, with rental prices for two-bedroom dwellings averaging at $810 compared to the US average of $1,430. Additionally, grocery costs are also lower here with an index score of 96 versus 100 nationally. The town's economy relies heavily on agriculture as well as local businesses like R and S Grocery Store, Haverly Auto Service Center and Algona Floral Design.
Algona has an unemployment rate of 3.5%. The US average is 6.0%.
Algona has seen the job market decrease by -1.7% over the last year. Future job growth over the next ten years is predicted to be 22.2%, which is lower than the US average of 33.5%.
Tax Rates for Algona
- The Sales Tax Rate for Algona is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Algona is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Algona
- The average income of a Algona resident is $26,275 a year. The US average is $28,555 a year.
- The Median household income of a Algona resident is $49,313 a year. The US average is $69,021 a year.