New Richmond, IN is a charming small town located in Wayne County, Indiana. With a population of around 5,000 people, New Richmond offers an affordable lifestyle for its residents. The average two-bedroom rent is only $1,250 compared to the U.S. average of $1,430. Additionally, the cost of groceries in New Richmond is 92 compared to 100 in the US.
The town has a variety of local businesses and attractions that make it an enjoyable place to live and visit. Major employers include Alpla Inc., Rose Acre Farms, and Jasper Group Furniture Manufacturing Corporation. Local attractions include Whitewater Valley Railroad Museum, Old Town Antique Mall, and Yaggy's Farm Market where visitors can browse antiques or pick their own fruits and vegetables from the farm produce stand.
New Richmond has an unemployment rate of 3.6%. The US average is 6.0%.
New Richmond has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for New Richmond
- The Sales Tax Rate for New Richmond is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New Richmond is 5.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New Richmond
- The average income of a New Richmond resident is $20,291 a year. The US average is $28,555 a year.
- The Median household income of a New Richmond resident is $70,536 a year. The US average is $69,021 a year.