Barnum, IA is a small town located in eastern Iowa. The cost of living in Barnum is quite affordable compared to other parts of the country. The average rent for a two bedroom apartment is $780, significantly lower than the U.S. national average of $1,430. The grocery cost index in Barnum is also lower than the U.S., at 94 compared to 100 in the US. There are several local companies operating in the town, including a lumber mill, a chemical plant, and an automotive repair shop. These businesses provide employment opportunities for residents while contributing to economic growth in the community. Despite being a smaller town than those found across America as a whole, Barnum still offers competitive housing costs and cost of living benefits for its residents when compared to larger cities throughout the United States.
Barnum has an unemployment rate of 4.7%. The US average is 6.0%.
Barnum has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 17.7%, which is lower than the US average of 33.5%.
Tax Rates for Barnum
- The Sales Tax Rate for Barnum is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Barnum 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 Barnum
- The average income of a Barnum resident is $17,065 a year. The US average is $28,555 a year.
- The Median household income of a Barnum resident is $74,000 a year. The US average is $69,021 a year.