Downing, MO is a small town in northwest Missouri known for its rural charm and agricultural roots. It is home to several local businesses such as Downing General Store, Southside Tractor & Implement Co., and Downing Veterinary Clinic. The cost of living in Downing is notably lower than the US average due to factors such as cheaper rent costs and lower grocery prices. For example, rent for a two-bedroom apartment is an estimated $870 compared to the average US price of $1,430. Grocery costs are also lower in Downing with a grocery cost index score of 93 versus 100 in the US. This makes life more affordable for those living and working in this charming community.
Downing has an unemployment rate of 4.7%. The US average is 6.0%.
Downing has seen the job market increase by 3.1% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Downing
- The Sales Tax Rate for Downing is 6.2%. The US average is 7.3%.
- The Income Tax Rate for Downing is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Downing
- The average income of a Downing resident is $17,999 a year. The US average is $28,555 a year.
- The Median household income of a Downing resident is $30,750 a year. The US average is $69,021 a year.