Fayette, IA is a small town in the state of Iowa with a population of 2,426. It's known for its peacefulness and its low-cost living. For example, the average two bedroom rent is $800 compared to the US average of $1,430. The Grocery Cost Index is also lower than the national average at 93 versus 100.
The city offers many businesses for locals to shop from including Fayette Antique Mall and Country Store and The Flower Shoppe. Fayette also has a strong agricultural industry where farmers can purchase parts and supplies from stores like Just In Time Ag Parts & Service Inc. Additionally, there are numerous outdoor activities such as fishing in Upper Iowa River or visiting local parks to explore nature trails like Turkey River Wildlife Area.
Overall, Fayette provides an affordable cost of living with plenty of activities for residents to enjoy. There is no shortage of job opportunities in fields like agriculture or retail due to the abundance of local businesses. As a result, Fayette remains an attractive place for people who want to escape big cities while still having access to amenities like shopping centers and outdoor recreation areas.
Fayette has an unemployment rate of 5.1%. The US average is 6.0%.
Fayette 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 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Fayette
- The Sales Tax Rate for Fayette is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Fayette 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 Fayette
- The average income of a Fayette resident is $16,763 a year. The US average is $28,555 a year.
- The Median household income of a Fayette resident is $35,682 a year. The US average is $69,021 a year.