Newton, TX is a small city with a unique charm. It is home to several local businesses such as Newton IGA Supermarket, Newton Pharmacy, and Jack's BBQ. The cost of living in Newton is quite low compared to the US average. For example, rent for a two bedroom apartment in Newton is only $840 compared to the national median of $1,430. In addition to this, the grocery cost index in Newton is 89 versus 100 in the US. This means that groceries are cheaper in Newton than most other places in the country.
Newton has an unemployment rate of 11.5%. The US average is 6.0%.
Newton has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 17.1%, which is lower than the US average of 33.5%.
Tax Rates for Newton
- The Sales Tax Rate for Newton is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Newton is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newton
- The average income of a Newton resident is $17,952 a year. The US average is $28,555 a year.
- The Median household income of a Newton resident is $37,115 a year. The US average is $69,021 a year.