Neola, UT is a small rural town located in rural Utah. It has the advantage of being peaceful and scenic while offering affordable living costs. The average 2-bedroom apartment rents for just $860, considerably lower than the national average of $1,430. Grocery costs are also much lower than the US average index score of 100, with Neola scoring 92 instead. This makes Neola a great place for families to live on a tight budget.
Some local businesses worth mentioning include Wild West Kwik Stop convenience store, Ellsworth's Bulk Feeds agricultural supply store, and Box Elder Logging sawmill.
An example of a good budget for residents of Neola would be allocating 40% of their income towards rent and utilities, 20% towards groceries and eating out, 10% towards savings or investments, 15% towards transportation costs such as gas or car repairs, 10% towards entertainment and leisure activities, and 5% towards miscellaneous expenses. With such an allocation plan it is possible to live comfortably within one’s means in Neola while still enjoying the beauty of living in this small town.
Neola has an unemployment rate of 5.5%. The US average is 6.0%.
Neola has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 9.0%, which is lower than the US average of 33.5%.
Tax Rates for Neola
- The Sales Tax Rate for Neola is 6.2%. The US average is 7.3%.
- The Income Tax Rate for Neola 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 Neola
- The average income of a Neola resident is $31,722 a year. The US average is $37,638 a year.
- The Median household income of a Neola resident is $82,000 a year. The US average is $69,021 a year.