Lorimor, IA is a small town located in Union County. It is an ideal location for those seeking to live a relaxed lifestyle away from the hustle and bustle of city life. The cost of living in Lorimor, IA is very affordable, with two-bedroom rent costing only $880 compared to the US average of $1,430. Groceries are also more affordable here, with prices being 96% of what you would pay in other areas of the US.
The town is home to a variety of local businesses including Gorrell’s Grocery Store, Anderson Automotive Repair, and Leonard Insurance Agency. These businesses provide residents with useful goods and services as well as job opportunities.
The pros of living in Lorimor, IA include its close-knit community feel with plenty of recreational activities for all ages such as golfing at Cedar Valley Golf Course or hiking trails throughout town. Additionally, residents can enjoy the peaceful quietness that comes from living away from the big cities while still having access to basic amenities like grocery stores.
Lorimor has an unemployment rate of 4.8%. The US average is 6.0%.
Lorimor has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 20.9%, which is lower than the US average of 33.5%.
Tax Rates for Lorimor
- The Sales Tax Rate for Lorimor is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lorimor 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 Lorimor
- The average income of a Lorimor resident is $14,377 a year. The US average is $28,555 a year.
- The Median household income of a Lorimor resident is $37,500 a year. The US average is $69,021 a year.