Redkey, IN is a small town located in the Midwestern United States. The town is known for its affordable cost of living and low-priced housing options. The average two bedroom rent in Redkey, IN is only $730 compared to the national average of $1,430. Additionally, the grocery cost index in Redkey, IN is 91 versus 100 in the US. This makes it an appealing option for those looking for more economical living arrangements.
The local economy is mainly supported by businesses such as Peebles Department Store, Martin's Supermarket and Dr Knappenberger DDS Family Dentistry. This makes it possible for locals to find jobs within the town limits.
For those who choose to live in Redkey, IN they should make sure they take advantage of all this small town has to offer with its many outdoor activities such as hiking, fishing and camping. Additionally, there are several parks located throughout the city that offer locals a chance to get outside and enjoy nature close to home. With its affordable housing prices and strong local business community, Redkey can be an attractive option for those looking for a change of pace from busy urban life.
Redkey has an unemployment rate of 3.9%. The US average is 6.0%.
Redkey has seen the job market decrease by -10.1% over the last year. Future job growth over the next ten years is predicted to be 22.2%, which is lower than the US average of 33.5%.
Tax Rates for Redkey
- The Sales Tax Rate for Redkey is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Redkey is 5.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Redkey
- The average income of a Redkey resident is $19,109 a year. The US average is $37,638 a year.
- The Median household income of a Redkey resident is $37,037 a year. The US average is $69,021 a year.