Newberry, IN is a small town with a population of about 2,500 people. The cost of living in Newberry is affordable compared to other areas in the US. For example, 2 bedroom rent in Newberry costs $850 while the US average for rent is $1,430. Additionally, grocery cost index in Newberry is 92 compared to 100 on average around the US.
Local businesses in Newberry include Fox's Pizza Den, a pizzeria; Brown’s Automotive Repair, an auto repair shop; and Olinger's Pharmacy & Home Medical Equipment, a pharmacy store. With its affordable cost of living and local businesses, Newberry makes for an ideal place to live and work.
Newberry has an unemployment rate of 4.9%. The US average is 6.0%.
Newberry has seen the job market decrease by -5.0% over the last year. Future job growth over the next ten years is predicted to be 23.6%, which is lower than the US average of 33.5%.
Tax Rates for Newberry
- The Sales Tax Rate for Newberry is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Newberry is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newberry
- The average income of a Newberry resident is $20,422 a year. The US average is $37,638 a year.
- The Median household income of a Newberry resident is $43,906 a year. The US average is $69,021 a year.