Nashua, IA is a small town located in Iowa with a population of roughly 5,400 residents. The cost of living in Nashua is significantly lower when compared to the US average due to its size and location. For example, 2 bedroom rental costs in Nashua are nearly half of the national average at $750 per month versus the US average of $1,430 per month. Additionally, the Grocery Cost Index in Nashua is 94 versus 100 for the US, making groceries more affordable in Nashua than nationally on average. \nThe local economy runs primarily on agriculture and a few small businesses. As such, the median household income is low at just over $54,000 per year. Some notable companies located in Nashua include Reinertson Plumbing & Heating Inc., Edge Fitness Center, R&D Automotive Repair LLC, and KG Designz LLC which provides custom web design services for businesses. All these factors combined make it clear why the cost of living is much lower than its neighboring cities and towns as well as nationally on average.
Nashua has an unemployment rate of 4.1%. The US average is 6.0%.
Nashua has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Nashua
- The Sales Tax Rate for Nashua is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Nashua 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 Nashua
- The average income of a Nashua resident is $23,629 a year. The US average is $28,555 a year.
- The Median household income of a Nashua resident is $54,063 a year. The US average is $69,021 a year.