Oelwein, IA is a small town located in Fayette County. It has a variety of businesses that serve local residents such as Bimbo Bakeries USA, Oelwein Axle and Machine Inc., PDCM Insurance, and more. Rent for two-bedroom apartments in Oelwein is significantly lower than the national average at $730 versus $1,430 in the US. Additionally, grocery cost index in Oelwein is 92 compared to 100 in the US which indicates that groceries are also less expensive when compared to other places. This makes it much more affordable to live in Oelwein than many parts of the country and provides an attractive incentive for those looking for a more cost-effective lifestyle without sacrificing quality.
Oelwein has an unemployment rate of 5.1%. The US average is 6.0%.
Oelwein has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Oelwein
- The Sales Tax Rate for Oelwein is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Oelwein 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 Oelwein
- The average income of a Oelwein resident is $22,295 a year. The US average is $28,555 a year.
- The Median household income of a Oelwein resident is $38,325 a year. The US average is $69,021 a year.