Nora Springs, IA is an idyllic small town situated in Floyd County. It is a quiet and peaceful place that offers many opportunities for its residents to relax and enjoy life. The cost of living in Nora Springs is quite affordable compared to other similar-sized towns across the country. A two-bedroom apartment rents for $810, which is significantly less than the national average of $1,430. Furthermore, groceries are also cheaper here due to lower taxes; the grocery cost index in Nora Springs is only 93 versus 100 in the US.
Nora Springs offers many local businesses such as True Value Hardware Store, Rottier’s Family Grocery Store, Fun Times Antiques & Collectibles, and P&J Automotive Repair Shop. These stores provide quality goods and services at competitive prices that help make this community a great place to live.
Nora Springs has an unemployment rate of 4.6%. The US average is 6.0%.
Nora Springs has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 31.4%, which is lower than the US average of 33.5%.
Tax Rates for Nora Springs
- The Sales Tax Rate for Nora Springs is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Nora Springs 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 Nora Springs
- The average income of a Nora Springs resident is $23,854 a year. The US average is $28,555 a year.
- The Median household income of a Nora Springs resident is $60,750 a year. The US average is $69,021 a year.