Farnhamville, IA is a small town with a population of around 500 and is located in the northwest part of Iowa. The average two bedroom rent in Farnhamville is significantly cheaper than the US average at $730 compared to $1,430. The Grocery Cost Index in Farnhamville is also lower at 93 compared to 100 in the US. \nThe town has many local businesses which include; Allsons Auto Repair, E&M Equipment Co., Driscoll’s Hardware Store, and K & K Farms Inc. Allsons Auto Repair offers automotive repair services for cars and trucks as well as tractor repair services. E&M Equipment Co. offers farm equipment sales and service. Driscoll’s Hardware Store provides general hardware items such as tools, nuts, bolts, paint and more. Lastly, K & K Farms Inc is a local farm that provides fresh produce and meats to the townspeople.
Farnhamville has an unemployment rate of 3.7%. The US average is 6.0%.
Farnhamville has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Farnhamville
- The Sales Tax Rate for Farnhamville is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Farnhamville 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 Farnhamville
- The average income of a Farnhamville resident is $26,420 a year. The US average is $28,555 a year.
- The Median household income of a Farnhamville resident is $46,136 a year. The US average is $69,021 a year.