Hamilton, IA is a small town with a population of just under 2,000 people. Despite its size, Hamilton offers a variety of amenities and services to its residents. It is an affordable place to live, with the average two bedroom rental price being $840 per month compared to the national average of $1,430. The cost of groceries is also lower than the national average, at 92 when indexed against the US at 100.
The economy in Hamilton largely relies on agriculture production and manufacturing. Local companies include Hamilton Manufacturing Corporation which specializes in metal fabrication and finishing services for automotive parts; JK Grain Services which provides grain drying services; and Farmers Meadow Turkey Farm which processes poultry products. Shopping is also available in town at various retail stores such as Co-op Grocery, Hamilton Hardware & Supply and Voskuhl Department Store.
Hamilton has an unemployment rate of 3.3%. The US average is 6.0%.
Hamilton has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Hamilton
- The Sales Tax Rate for Hamilton is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Hamilton 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 Hamilton
- The average income of a Hamilton resident is $14,216 a year. The US average is $28,555 a year.
- The Median household income of a Hamilton resident is $62,500 a year. The US average is $69,021 a year.