Marengo, IN is a small town located in south-central Indiana. It has a population of about 4,500 people and is known for its gorgeous scenery. Apartments here are relatively affordable, with 2 bedroom rent costing an average of $840 compared to the national average of $1,430. Additionally, Marengo is known for its grocery cost index of 93 which is below the US average of 100.
Marengo, IN has several local businesses that make up the town’s economy. These include Hoosier Heritage Bank, Tomlinson's Hardware Store and Ace Auto Repair Shop. The local farmers market provides fresh produce as well as other products from local vendors. Other shops in Marengo that serve the community include Orville Hardware Store, Family Dollar Store and Tractor Supply Co. All these organizations help contribute to Marengo’s continued success and growth as a community.
Marengo has an unemployment rate of 4.8%. The US average is 6.0%.
Marengo has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 26.2%, which is lower than the US average of 33.5%.
Tax Rates for Marengo
- The Sales Tax Rate for Marengo is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Marengo 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 Marengo
- The average income of a Marengo resident is $13,513 a year. The US average is $28,555 a year.
- The Median household income of a Marengo resident is $36,917 a year. The US average is $69,021 a year.