Norwood, Colorado is a small city located in San Miguel County. It is home to about 1,000 residents who enjoy the area's laid back atmosphere and access to outdoor activities. The two bedroom rent cost for Norwood is higher than the US average at $1,730 compared to $1,430 respectively. The grocery cost index for Norwood is also higher than the national average at 107 versus 100. Though small in size, Norwood has a number of thriving local businesses including La Garita Trading Company, Cascade Cattle Company, and Dunton Outdoor Adventure Center. With its affordable housing and great amenities, Norwood proves to be an ideal place to live and work.
Norwood has an unemployment rate of 5.4%. The US average is 6.0%.
Norwood has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 43.8%, which is higher than the US average of 33.5%.
Tax Rates for Norwood
- The Sales Tax Rate for Norwood is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Norwood is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Norwood
- The average income of a Norwood resident is $23,484 a year. The US average is $28,555 a year.
- The Median household income of a Norwood resident is $51,842 a year. The US average is $69,021 a year.