Newcastle, OK is a small suburb located about 15 miles southwest of Oklahoma City. It is home to a variety of local businesses, such as Dollar General, Sonic Drive-In, Walgreens, and Newcastle Pizza Company. The cost of living in Newcastle is lower than the national average. Due to the low median rent at $880 for a two bedroom apartment in Newcastle versus $1,430 nationally, this makes it an attractive place for those looking for affordable housing options. Additionally, the Grocery Cost Index in Newcastle is 99 versus 100 in the US which also suggests that groceries are relatively inexpensive compared to other cities across America.
Newcastle has an unemployment rate of 3.5%. The US average is 6.0%.
Newcastle has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 33.1%, which is lower than the US average of 33.5%.
Tax Rates for Newcastle
- The Sales Tax Rate for Newcastle is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Newcastle is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newcastle
- The average income of a Newcastle resident is $32,010 a year. The US average is $28,555 a year.
- The Median household income of a Newcastle resident is $86,907 a year. The US average is $69,021 a year.