Fairmount, IN is a small city located in Indiana offering a unique blend of rural charm and modern convenience. With a population of around 5,000 people, it is an ideal location for those seeking to escape the hustle and bustle of city life. The cost of living in Fairmount is much lower than the United States as a whole; for example, rent for two-bedroom apartments averages $800 versus $1,430 nationwide. The Grocery Cost Index in Fairmount is also 92 compared to 100 nationally. Local companies such as Antell's Riverside Cafe & Catering provide excellent service and quality dining experiences at affordable prices. The local economy also includes businesses such as Fairmount Family Motors and Bridgeway Drive-In Theatre. All in all, Fairmount offers residents a low cost of living and plenty of amenities that make it an attractive place to live or visit.
Fairmount has an unemployment rate of 4.4%. The US average is 6.0%.
Fairmount has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 23.9%, which is lower than the US average of 33.5%.
Tax Rates for Fairmount
- The Sales Tax Rate for Fairmount is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Fairmount is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Fairmount
- The average income of a Fairmount resident is $17,318 a year. The US average is $28,555 a year.
- The Median household income of a Fairmount resident is $39,665 a year. The US average is $69,021 a year.