Albion, IA is a small city located in the Midwest region of the United States. It's known for its affordable living conditions with 2 bedroom rent costing only $860 compared to $1,430 in the US on average. The grocery cost index is also lower than that of the US, currently standing at 93 against 100. A variety of businesses and companies exist within Albion, including Sterling State Bank, Albion Elevator Inc., and Farm & Home Co-op. These local companies provide the community with essential services such as financial assistance, agricultural supplies, and other goods.
Albion has an unemployment rate of 7.8%. The US average is 6.0%.
Albion has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 10.3%, which is lower than the US average of 33.5%.
Tax Rates for Albion
- The Sales Tax Rate for Albion is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Albion is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Albion
- The average income of a Albion resident is $30,785 a year. The US average is $37,638 a year.
- The Median household income of a Albion resident is $65,341 a year. The US average is $69,021 a year.