Independence, OH is an attractive city to live in due to its reasonable rent prices and cost of living. The average rent for a two bedroom apartment in Independence is $1,410, which is $20 cheaper than the US average. Furthermore, the Grocery Cost Index in Independence is equal to that of the US at 100. This makes it easy for residents to budget their expenses without having to worry about unexpected costs.
The city also offers plenty of employment opportunities with major companies such as FirstEnergy Corporation, Hyland Software, and Revlon Cosmetics all located in or near Independence. Additionally, the city houses numerous local businesses that contribute greatly to the community such as The Cut Above Salon & Spa, Waterbed City USA, and The Learned Owl Book Shop. These companies offer a wide variety of services and products that make life more enjoyable for those living in Independence.
Independence has an unemployment rate of 5.5%. The US average is 6.0%.
Independence has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 23.4%, which is lower than the US average of 33.5%.
Tax Rates for Independence
- The Sales Tax Rate for Independence is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Independence is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Independence
- The average income of a Independence resident is $35,319 a year. The US average is $28,555 a year.
- The Median household income of a Independence resident is $108,674 a year. The US average is $69,021 a year.