Cincinnati, IA is a small town with a population of fewer than 100 people. Despite its small size, Cincinnati offers an affordable cost of living. On average, a two bedroom apartment rents for $780 per month, which is significantly lower than the U.S. average rent of $1,430. Additionally, the Grocery Cost Index in Cincinnati is 93 versus the US benchmark at 100, making it even more attractive to residents. The local economy is supported by several companies such as Cedar Valley Restoration & Remodeling and Ed's Used Cars and Trucks. These businesses provide employment opportunities for locals looking to live and work in the area while benefiting from more affordable housing and grocery costs.
Cincinnati has an unemployment rate of 4.1%. The US average is 6.0%.
Cincinnati has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Cincinnati
- The Sales Tax Rate for Cincinnati is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cincinnati 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 Cincinnati
- The average income of a Cincinnati resident is $17,887 a year. The US average is $28,555 a year.
- The Median household income of a Cincinnati resident is $49,375 a year. The US average is $69,021 a year.