Houghton, IA is an excellent place to live and work. The average rental rate for a two bedroom apartment is around $820, which is significantly lower than the national average of $1,430. Additionally, grocery costs in Houghton are more affordable with an index of 94 compared to 100 in the US. There are many well-known companies based in Houghton such as State Farm Insurance, Hy-Vee Grocery Store, and the Bank of Houghton. These businesses provide local jobs and services that help make Houghton a great place to live.
Houghton has an unemployment rate of 5.7%. The US average is 6.0%.
Houghton has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 3.6%, which is lower than the US average of 33.5%.
Tax Rates for Houghton
- The Sales Tax Rate for Houghton is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Houghton 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 Houghton
- The average income of a Houghton resident is $25,225 a year. The US average is $28,555 a year.
- The Median household income of a Houghton resident is $93,750 a year. The US average is $69,021 a year.