Rensselaer, IN is a small town located in northwestern Indiana. The town has a population of over 5,000 and is known for its affordable cost of living compared to the national average. The average rent price for two-bedroom apartments in Rensselaer is $920 per month, which is substantially lower than the national average of $1,430. The Grocery Cost Index in Rensselaer is 92 versus 100 in the US. This means that groceries will be more affordable in Rensselaer compared to most other cities in the United States.
Rensselaer is home to several large companies such as ArcelorMittal, which operates an iron and steel manufacturing plant here, as well as several stores including Walmart, Home Depot and Lowe's. Other interesting facts about Rensselaer include its annual Fourth of July fireworks show at the Jasper County Fairgrounds and its local amateur baseball team, the Rensselaer Bombers. In addition, Rensselaer is host to numerous outdoor activities such as fishing and hiking at nearby parks like Wolf Lake Park and Green Acres Park.
Rensselaer has an unemployment rate of 5.0%. The US average is 6.0%.
Rensselaer has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Rensselaer
- The Sales Tax Rate for Rensselaer is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Rensselaer is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Rensselaer
- The average income of a Rensselaer resident is $24,854 a year. The US average is $28,555 a year.
- The Median household income of a Rensselaer resident is $51,372 a year. The US average is $69,021 a year.