Benton, IA is an affordable place to live with a 2 bedroom rent of $810 compared to the US average of $1,430. The cost of groceries in Benton statewide is also lower than the national average. Benton has a number of local businesses that make a positive impact on the community. Buena Vista County Co-op is popular among locals for its gas station and convenience store services. Central Bank & Trust Co offers individuals and businesses financial services such as loans, checking accounts, savings accounts, trust services, retirement planning and more. Allamakee County Rural Electric Cooperative provides electricity to homes and businesses in the area at competitive rates. These companies contribute significantly to the economy of Benton by providing jobs and business opportunities while also providing essential services to the community.
Benton has an unemployment rate of 3.2%. The US average is 6.0%.
Benton has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 25.3%, which is lower than the US average of 33.5%.
Tax Rates for Benton
- The Sales Tax Rate for Benton is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Benton 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 Benton
- The average income of a Benton resident is $16,250 a year. The US average is $28,555 a year.
- The Median household income of a Benton resident is $41,250 a year. The US average is $69,021 a year.