Thompson, IA is a small town located in North Central Iowa. It is known for its tight-knit community and strong sense of pride. The cost of living in Thompson is relatively low when compared to the national average. For example, a two bedroom apartment rents for around $810 compared to the national average of $1,430. Similarly, the grocery cost index in Thompson is 92 versus 100 in the US. Local companies such as Thompson Hardware and Lester's Tires provide employment to many residents of Thompson, allowing them to take advantage of its low cost of living.
Thompson has an unemployment rate of 4.1%. The US average is 6.0%.
Thompson has seen the job market increase by 0.0% over the last year. Future job growth over the next ten years is predicted to be 28.7%, which is lower than the US average of 33.5%.
Tax Rates for Thompson
- The Sales Tax Rate for Thompson is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Thompson 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 Thompson
- The average income of a Thompson resident is $23,565 a year. The US average is $28,555 a year.
- The Median household income of a Thompson resident is $47,750 a year. The US average is $69,021 a year.