Melbourne, IA is a great place to call home. Located in Marshall County, it offers small-town charm with all the amenities of a modern city. As for housing prices, you can expect to pay around $860 for a two bedroom apartment in Melbourne - much lower than the national average of $1,430 for two bedrooms. The cost of living in Melbourne is also quite affordable - according to the Grocery Cost Index, prices are about 94 compared to 100 nationally. The local economy is diverse and there are many different companies that call Melbourne home, including 3M, Vermeer Corporation, and Hy-Vee Supermarket. All of these factors make Melbourne an attractive place to live and work.
Melbourne has an unemployment rate of 7.8%. The US average is 6.0%.
Melbourne has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 10.3%, which is lower than the US average of 33.5%.
Tax Rates for Melbourne
- The Sales Tax Rate for Melbourne is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Melbourne 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 Melbourne
- The average income of a Melbourne resident is $22,929 a year. The US average is $28,555 a year.
- The Median household income of a Melbourne resident is $83,194 a year. The US average is $69,021 a year.