Melvin, IA is a small town with a rich history and unique culture. Located in the heart of Iowa, Melvin provides its residents with affordable housing and access to everyday necessities. The average two bedroom rent in Melvin is $720 which is significantly less than the national average of $1,430. Additionally, its Grocery Cost Index is 92 compared to the US average of 100, making groceries more accessible and affordable for residents. With an array of local businesses such as Honsberger Feed & Seed, Countryside Produce & Deli and Nutrien Ag Solutions, Melvin offers something for everyone.
Melvin has an unemployment rate of 2.7%. The US average is 6.0%.
Melvin has seen the job market decrease by -2.8% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Melvin
- The Sales Tax Rate for Melvin is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Melvin 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 Melvin
- The average income of a Melvin resident is $24,713 a year. The US average is $37,638 a year.
- The Median household income of a Melvin resident is $60,000 a year. The US average is $69,021 a year.