Silver City, IA is a small town situated in the heart of Iowa. It is known for its friendly people and vibrant community. Silver City is home to some notable establishments such as the Silver City ABC Store, Golden Sage Restaurant, and Silver Dollar Cinema. The cost of living in Silver City is significantly lower than that of the US average; rents for two bedroom apartments are only $1,020 per month compared to $1,430 nationwide. Additionally, grocery costs are 95 versus 100 in the US on average. Not only does Silver City offer affordability but it also offers numerous attractions such as nature trails in nearby parks, historic sites such as downtown’s historic theater, and outdoor activities like swimming at the city pool or fishing at the lake.
Silver City has an unemployment rate of 3.5%. The US average is 6.0%.
Silver City has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 28.9%, which is lower than the US average of 33.5%.
Tax Rates for Silver City
- The Sales Tax Rate for Silver City is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Silver City 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 Silver City
- The average income of a Silver City resident is $34,137 a year. The US average is $28,555 a year.
- The Median household income of a Silver City resident is $72,500 a year. The US average is $69,021 a year.