Farragut, IA is an attractive place to live with its affordable cost of living. The median 2 Bedroom rent in Farragut is $800, which is significantly lower than the US average of $1,430. Additionally, Farragut's Grocery Cost Index is 93 compared to 100 in the US. This makes it a great place to both live and save money. \nFarragut boasts a wide variety of local businesses that make it unique. K&S Motorsports offers vehicle sales and service, while Marv’s Super Valu supports the community with groceries and other goods. In addition, Bank Iowa provides banking services for locals and visitors alike. There are many more businesses located in Farragut that contribute to its vibrant atmosphere and culture.
Farragut has an unemployment rate of 2.5%. The US average is 6.0%.
Farragut has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 11.0%, which is lower than the US average of 33.5%.
Tax Rates for Farragut
- The Sales Tax Rate for Farragut is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Farragut 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 Farragut
- The average income of a Farragut resident is $25,281 a year. The US average is $28,555 a year.
- The Median household income of a Farragut resident is $45,833 a year. The US average is $69,021 a year.