Shelbyville, IN is a city located around 30 miles southeast of Indianapolis. The cost of living in Shelbyville is lower than the US due to cheaper rent and groceries. The average 2-bedroom rent in Shelbyville is $940, while the US average for 2-bedroom rent is $1,430. Additionally, the grocery cost index in Shelbyville is 93 compared to 100 in the US.
Shelbyville boasts several well known companies such as Raybestos Brakes, Allegion plc, Bemis Corporation, DURA Automotive Systems Inc., Indiana Packers Corporation, and OSI Group LLC. All of these businesses employ thousands of local people helping to create jobs and further reduce the cost of living in Shelbyville by providing their employees with competitive wages. With this combination of low rent and food costs plus plenty of job opportunities, Shelbyville offers an attractive option for those looking for a more affordable lifestyle while still being close to Indianapolis.
Shelbyville has an unemployment rate of 4.0%. The US average is 6.0%.
Shelbyville has seen the job market decrease by -4.8% over the last year. Future job growth over the next ten years is predicted to be 36.3%, which is higher than the US average of 33.5%.
Tax Rates for Shelbyville
- The Sales Tax Rate for Shelbyville is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Shelbyville is 4.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Shelbyville
- The average income of a Shelbyville resident is $26,956 a year. The US average is $37,638 a year.
- The Median household income of a Shelbyville resident is $55,950 a year. The US average is $69,021 a year.