Rensselaer, MO is a small town located in the Midwest. It is known for its low rental prices and low cost of living. The average two-bedroom apartment rent in Rensselaer is only $770 compared to the national average of $1,430, making it an affordable place to live. Additionally, the Grocery Cost Index in Rensselaer is 94, which is 6 points lower than the US average of 100. This makes basic necessities very accessible to those who choose to live here. The town itself is home to many local companies such as Jones Construction, T & M Electric Company, and Williams Excavation. These businesses provide employment opportunities for residents and contribute to the local economy.
Rensselaer has an unemployment rate of 4.0%. The US average is 6.0%.
Rensselaer has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Rensselaer
- The Sales Tax Rate for Rensselaer is 6.7%. The US average is 7.3%.
- The Income Tax Rate for Rensselaer 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 Rensselaer
- The average income of a Rensselaer resident is $21,919 a year. The US average is $28,555 a year.
- The Median household income of a Rensselaer resident is $68,125 a year. The US average is $69,021 a year.