Bridgewater, IA is a small city located in the heart of Iowa's eastern border. It is known for its friendly people and low cost of living. The average two bedroom rental rate in Bridgewater is $730 per month which is far less than the national average of $1,430 per month. Furthermore, the grocery cost index in this city has been measured at 91 compared to 100 in the US, making it an affordable place to live.
The city of Bridgewater boasts many local businesses that are important to the economy such as JB Auto Repair, an automotive shop established in 2009; Cedar River Quilters Inc., a fabric shop founded by two quilt-making locals; and Phelan Plumbing and Heating Co., a family-run business providing plumbing services since 1952. These establishments provide jobs and resources for residents, giving them more reasons to stay put in their beloved hometown of Bridgewater.
Bridgewater has an unemployment rate of 3.1%. The US average is 6.0%.
Bridgewater has seen the job market decrease by -4.5% 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 Bridgewater
- The Sales Tax Rate for Bridgewater is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Bridgewater 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 Bridgewater
- The average income of a Bridgewater resident is $24,645 a year. The US average is $37,638 a year.
- The Median household income of a Bridgewater resident is $49,063 a year. The US average is $69,021 a year.