Portsmouth, IA is a small town located in Iowa with a population of around 2,000 people. It is known for its quiet and peaceful atmosphere as well as its affordability. The median rent for a two bedroom apartment is just $820 compared to the US average of $1430. Additionally, the local Grocery Cost Index is 95 compared to the national average of 100 making groceries a more affordable option for Portsmouth residents. The cost of living in Portsmouth makes it an attractive place to live for those looking to save money while still enjoying all the amenities that come with living in a small town.
The town has several locally owned businesses that offer goods and services to their citizens such as ELCO Collision Center, Brown’s Sanitation Service, Inc., and Long’s Floor Center. These companies have been servicing their community for decades and are always looking for new ways to keep their city thriving economically. All in all, Portsmouth offers its citizens great quality of life at an affordable price making it a great place to call home.
Portsmouth has an unemployment rate of 3.5%. The US average is 6.0%.
Portsmouth has seen the job market decrease by -0.9% over the last year. Future job growth over the next ten years is predicted to be 16.4%, which is lower than the US average of 33.5%.
Tax Rates for Portsmouth
- The Sales Tax Rate for Portsmouth is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Portsmouth 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 Portsmouth
- The average income of a Portsmouth resident is $31,672 a year. The US average is $28,555 a year.
- The Median household income of a Portsmouth resident is $79,286 a year. The US average is $69,021 a year.