Elmwood, WI is a small town located near the Mississippi River. It has a population of approximately 900 and is known for its beautiful natural scenery and rural charm. With its low cost of living, Elmwood is an attractive destination for those who are looking for a peaceful place to call home. The average two bedroom rent in Elmwood is $1,210 per month while the U.S national average is $1,430 per month. Grocery Cost Index in Elmwood is also lower than that of the US at 96 versus 100 respectively.
The town boasts several local businesses such as River Dog Trading Company – which offers outdoor gear and apparel – and Silver Street Coffeehouse where visitors can enjoy coffee drinks, baked goods, and sandwiches. The low cost of living in the area can be attributed to factors such as low wages and rental prices as well as limited housing options. In addition, there are no large shopping centers or sprawling developments in the area which helps keep costs down.
Elmwood has an unemployment rate of 4.6%. The US average is 6.0%.
Elmwood has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 38.2%, which is higher than the US average of 33.5%.
Tax Rates for Elmwood
- The Sales Tax Rate for Elmwood is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Elmwood is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elmwood
- The average income of a Elmwood resident is $21,542 a year. The US average is $28,555 a year.
- The Median household income of a Elmwood resident is $52,250 a year. The US average is $69,021 a year.