Frederika, IA is a small town with a population of roughly 500 people. The cost of living in this community is quite affordable with the average 2 bedroom rent being $880 compared to the US average of $1,430. Additionally, grocery costs are even more affordable with the index score for Frederika coming in at 93 versus 100 in the US. Local businesses and employers include Cedar Valley Farmers Co-op, Schlarmann's Service Station, Hovenga Grocery Store and Martin's Repair Services. These companies provide a variety of services and goods for residents within the town as well as surrounding areas.
Frederika has an unemployment rate of 3.4%. The US average is 6.0%.
Frederika has seen the job market decrease by -6.9% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Frederika
- The Sales Tax Rate for Frederika is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Frederika 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 Frederika
- The average income of a Frederika resident is $25,439 a year. The US average is $37,638 a year.
- The Median household income of a Frederika resident is $42,500 a year. The US average is $69,021 a year.