Economy in Iowa City, IA

Iowa City, IA is a vibrant city located in the heart of Iowa. It has many local companies and attractions that make it an attractive place to live. Some notable companies in Iowa City include the University of Iowa Hospitals and Clinics, UIHC City Care Clinic, Hills Bank & Trust, Von Maur Department Store, Walgreens Pharmacy, Hy-Vee Grocery Stores and many more. The entertainment options available in town are also plentiful; from popular restaurants such as Devotay to local theater performances put on by Riverside Theater to visiting exhibits at the Iowa City Public Library, there's something for everyone. The cost of living in Iowa City is also good compared to other parts of the country; two bedroom rents average $1,150 per month compared to $1,430 nationally while the Grocery Cost Index is completely even with what it costs across the US.

Iowa City has an unemployment rate of 3.5%. The US average is 6.0%.

Iowa City has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 29.5%, which is lower than the US average of 33.5%.

Tax Rates for Iowa City
- The Sales Tax Rate for Iowa City is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Iowa City 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 Iowa City
- The average income of a Iowa City resident is $27,336 a year. The US average is $28,555 a year.
- The Median household income of a Iowa City resident is $51,925 a year. The US average is $69,021 a year.