Charter Oak, IA is a quaint town located in the Midwest. It is known for its charming downtown area, which is home to several local companies such as The Charter Oak Bank, Charter Oak Insurance Company, and Smith's Grocery Store. The cost of living in this small town is considerably lower than the US average, with the average 2 bedroom rent being only $770 compared to $1,430 in the US. Additionally, the Grocery Cost Index of 92 in Charter Oak is much lower than that of 100 across the nation. This makes this town an affordable place to live with plenty of local amenities.
Charter Oak has an unemployment rate of 5.8%. The US average is 6.0%.
Charter Oak has seen the job market decrease by -5.2% over the last year. Future job growth over the next ten years is predicted to be 7.4%, which is lower than the US average of 33.5%.
Tax Rates for Charter Oak
- The Sales Tax Rate for Charter Oak is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Charter Oak 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 Charter Oak
- The average income of a Charter Oak resident is $21,770 a year. The US average is $37,638 a year.
- The Median household income of a Charter Oak resident is $44,750 a year. The US average is $69,021 a year.