Terrace Park, OH is a great place to live and work. It is conveniently located near major highways and public transportation making it an ideal location for commuters. Home to countless small businesses such as Terrace Park Printing, Stor-Ease Self Storage and Dermatology Associates of Cincinnati, this cozy town has something for everyone. The cost of living index in Terrace Park is slightly higher than the average U.S. city, with two-bedroom rent at $1,350 compared to $1,430 nationally. Grocery costs are also elevated with an index of 108 versus 100 in the US on average. Despite the slight increase in costs, Terrace Park remains a great place to call home for those that appreciate its close knit community and many amenities.
Terrace Park has an unemployment rate of 4.4%. The US average is 6.0%.
Terrace Park has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for Terrace Park
- The Sales Tax Rate for Terrace Park is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Terrace Park is 3.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Terrace Park
- The average income of a Terrace Park resident is $56,993 a year. The US average is $28,555 a year.
- The Median household income of a Terrace Park resident is $183,750 a year. The US average is $69,021 a year.