Urbana, IA is a small town located in Iowa with a population of just under 5,000 people. It is known for its quiet atmosphere and low cost of living. The average rent for a two bedroom apartment in Urbana is $1,030 which is significantly lower than the US rental rate of $1,430. Additionally, grocery costs in Urbana are 96 compared to the US index which stands at 100. This makes it more affordable to buy food and other necessities here than in other parts of the country.
The local economy in Urbana consists primarily of small businesses such as mom-and-pop restaurants, hardware stores, and antique shops. There are also several larger companies located within the city limits including manufacturing plants like Pioneer Hi-Bred International Inc and farm production warehouses like Southeast Iowa Grain Processors LLC. In short, Urbana provides a peaceful environment with relatively low living costs that make it an ideal option for those looking for an inexpensive place to live.
Urbana has an unemployment rate of 5.0%. The US average is 6.0%.
Urbana has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for Urbana
- The Sales Tax Rate for Urbana is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Urbana 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 Urbana
- The average income of a Urbana resident is $29,341 a year. The US average is $28,555 a year.
- The Median household income of a Urbana resident is $97,273 a year. The US average is $69,021 a year.