Farmland, IN is a small town located in Northeastern Indiana. It is a rural community filled with friendly people and beautiful landscapes. The town offers a variety of local businesses, including farms, hardware stores, restaurants, and health centers. The cost of living in Farmland is much lower than other parts of the country due to its low population density. Rent for a two bedroom apartment in the area is roughly half that of similar apartments in other parts of the US. Additionally, grocery costs are significantly lower compared to the national average; the Grocery Cost Index in Farmland is 92 versus 100 in the US. This makes it affordable for locals to make ends meet without stretching their budget too thin.
Farmland has an unemployment rate of 4.6%. The US average is 6.0%.
Farmland has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 9.6%, which is lower than the US average of 33.5%.
Tax Rates for Farmland
- The Sales Tax Rate for Farmland is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Farmland is 4.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Farmland
- The average income of a Farmland resident is $21,441 a year. The US average is $28,555 a year.
- The Median household income of a Farmland resident is $39,211 a year. The US average is $69,021 a year.