Lapel, IN is a small town located in Madison County. It is known for its small-town charm and friendly locals. The 2 bedroom rent cost of $980 is much lower than the U.S. average of $1,430 making it an attractive option for those looking to live in a more affordable area. Lapel also has a lower grocery cost index than the U.S., making groceries cheaper than the national average. There are several local companies such as Haysville Manufacturing Co., Fetter Electric Co., Inc., and J&C Outdoors that contribute to the local economy and provide jobs to the residents of Lapel, IN. While Lapel does offer some differences from other places in the country, it still maintains a close connection with its community members that make it special and unique.
Lapel has an unemployment rate of 5.4%. The US average is 6.0%.
Lapel has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Lapel
- The Sales Tax Rate for Lapel is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lapel 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 Lapel
- The average income of a Lapel resident is $28,209 a year. The US average is $28,555 a year.
- The Median household income of a Lapel resident is $66,875 a year. The US average is $69,021 a year.