Garrett, IL is a small rural town located in Northern Indiana. It is home to several local businesses such as Joe’s Pizza & Subs, Garrett Auto Repair, and Garrett Furniture Store. Despite its small size, it offers much more than meets the eye. The cost of living is quite low compared to other places in the US. For instance, the average 2 bedroom rent is $890 which is much lower than the national average of $1,430. Similarly, the grocery cost index in Garrett is 93 versus 100 for the rest of the US making it even more affordable for residents. All this makes Garrett an attractive choice for people looking for a quiet life without having to fork over too much money.
Garrett has an unemployment rate of 3.9%. The US average is 6.0%.
Garrett has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 30.5%, which is lower than the US average of 33.5%.
Tax Rates for Garrett
- The Sales Tax Rate for Garrett is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Garrett 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 Garrett
- The average income of a Garrett resident is $16,543 a year. The US average is $28,555 a year.
- The Median household income of a Garrett resident is $46,875 a year. The US average is $69,021 a year.