Solon, IA is a small town located in the state of Iowa. It is known for its low cost of living and great community atmosphere. The average two bedroom rent in Solon is nearly $500 less than the US average. Additionally, groceries are slightly cheaper than the national average index score of 100, with a score of 102. This makes Solon an attractive place to live for those who want to save money while still having access to amenities within reach.
Solon is home to several local businesses such as Cedar Rapids Bank & Trust, which offers banking services and financial advice to its customers, and the Solon Area Chamber of Commerce, a non-profit group that promotes economic growth in the city. With these local companies serving the area's economy, Solon has taken advantage of its affordable living costs and business opportunities to become an attractive option for those looking for a stable place to settle down.
Solon has an unemployment rate of 3.7%. The US average is 6.0%.
Solon has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 32.2%, which is lower than the US average of 33.5%.
Tax Rates for Solon
- The Sales Tax Rate for Solon is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Solon 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 Solon
- The average income of a Solon resident is $28,644 a year. The US average is $28,555 a year.
- The Median household income of a Solon resident is $101,250 a year. The US average is $69,021 a year.