Elkhart, IA is a small city located near Iowa City. It is known for its great quality of life and affordable cost of living. The rent for a two-bedroom apartment in Elkhart is $1,100, which is much lower than the US average of $1,430. Similarly, the Grocery Cost Index in Elkhart is 99 compared to the US average of 100. This means that many essential items are less expensive in Elkhart than elsewhere. Some local companies in Elkhart include Cedar Valley Dairy, Collins Aerospace and TPI Composites. All three have been highly successful businesses in the area for many years.
Elkhart has an unemployment rate of 4.6%. The US average is 6.0%.
Elkhart has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 35.9%, which is higher than the US average of 33.5%.
Tax Rates for Elkhart
- The Sales Tax Rate for Elkhart is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Elkhart 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 Elkhart
- The average income of a Elkhart resident is $29,725 a year. The US average is $37,638 a year.
- The Median household income of a Elkhart resident is $68,409 a year. The US average is $69,021 a year.