Milltown, IN is a small town located in Indiana where the cost of living is relatively low compared to the US. The average two bedroom rent in Milltown is significantly lower than the national average at $860 versus $1,430. Additionally, the Grocery Cost Index in Milltown is 94 versus 100 in the US. This means that groceries are 6% cheaper in Milltown compared to the US. Some local companies include Bodine Electric Motor Repair Company, Wright Animal Hospital, and McDowell Dental Care. All of these companies serve the community of Milltown and provide important services for its residents. Comparing Milltown to the United States as a whole can be beneficial when assessing cost of living expenses and understanding what services are available locally.
Milltown has an unemployment rate of 4.8%. The US average is 6.0%.
Milltown 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 Milltown
- The Sales Tax Rate for Milltown is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Milltown 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 Milltown
- The average income of a Milltown resident is $17,666 a year. The US average is $28,555 a year.
- The Median household income of a Milltown resident is $43,750 a year. The US average is $69,021 a year.