New Madrid, MO is a small city located in Southeast Missouri with a population of around 3,000. It is known for its charming downtown area and historic roots. The cost of living in New Madrid is quite low when compared to other cities across the United States; 2 bedroom rent averages at $800 and grocery costs index at 94 versus 100 in the US. Some of the local companies in New Madrid include Bryant’s Marathon and Bruno’s Pizza. Along with its businesses, New Madrid also boasts several outdoor activities such as camping, fishing, hunting, hiking and boating on the nearby Mississippi River. With an affordable cost of living combined with a great variety of activities to explore, it’s no wonder why so many people choose to call New Madrid home.
New Madrid has an unemployment rate of 4.5%. The US average is 6.0%.
New Madrid has seen the job market decrease by -0.8% over the last year. Future job growth over the next ten years is predicted to be 3.3%, which is lower than the US average of 33.5%.
Tax Rates for New Madrid
- The Sales Tax Rate for New Madrid is 8.7%. The US average is 7.3%.
- The Income Tax Rate for New Madrid 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 New Madrid
- The average income of a New Madrid resident is $29,589 a year. The US average is $28,555 a year.
- The Median household income of a New Madrid resident is $39,271 a year. The US average is $69,021 a year.