Independence, WI is a small town located near the Wisconsin River. It is known for it's low cost of living and close proximity to larger towns and cities like Madison, WI. Recently, 2 bedroom rents have been reported to be $890 compared to the US average of $1,430. Additionally, Independence's Grocery Cost Index is 92 versus the US average of 100. Local companies that have established themselves in this area include Freedom Bank, Ashland County Co-op, J&D Appliance Repair and Schramm Construction. All these businesses contribute to Independence's growing economy and provide valuable services for residents.
Independence has an unemployment rate of 5.3%. The US average is 6.0%.
Independence has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 28.3%, which is lower than the US average of 33.5%.
Tax Rates for Independence
- The Sales Tax Rate for Independence is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Independence 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 Independence
- The average income of a Independence resident is $19,795 a year. The US average is $28,555 a year.
- The Median household income of a Independence resident is $47,375 a year. The US average is $69,021 a year.