Oaktown, IN is a small town located in the Midwest that offers an affordable cost of living for its residents. The 2 bedroom rent is nearly half of the national average, making it an attractive location for those looking to save money. Additionally, groceries are 10% cheaper than the national average index of 100. Local companies like Smith Grocery Store and Oak Motors provide services and goods to the town's inhabitants while providing employment opportunities. Oaktown also boasts plenty of recreational activities such as hiking at Oaktown National Park, catching a show at the local theater, or visiting one of many nearby lakes or rivers. All these amenities make Oaktown an ideal place to live and raise a family.
Oaktown has an unemployment rate of 3.8%. The US average is 6.0%.
Oaktown has seen the job market decrease by -4.6% over the last year. Future job growth over the next ten years is predicted to be 24.2%, which is lower than the US average of 33.5%.
Tax Rates for Oaktown
- The Sales Tax Rate for Oaktown is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Oaktown is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oaktown
- The average income of a Oaktown resident is $23,230 a year. The US average is $37,638 a year.
- The Median household income of a Oaktown resident is $0 a year. The US average is $69,021 a year.