New Albin, IA is a great place to live for those looking for an affordable alternative to the hustle and bustle of bigger cities. With 2 bedroom rent coming in at just $810 compared to the US average of $1,430, New Albin offers big savings on housing costs without sacrificing quality. Also, grocery costs are below average with an index of 95 compared to the national average of 100. The affordability of living in New Albin combined with its small-town charm make it a great option for those seeking an affordable but comfortable lifestyle. Local employers include Farner Bocken Company which provides food ingredients and distributes retail items across the Midwest; Valley Proteins Inc., which processes animal feed byproducts; and Renewable Energy Group which refines renewable biomass materials into fuel products. All these companies offer competitive wages and benefits that make New Albin a great place to live and work!
New Albin has an unemployment rate of 5.9%. The US average is 6.0%.
New Albin has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 21.5%, which is lower than the US average of 33.5%.
Tax Rates for New Albin
- The Sales Tax Rate for New Albin is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New Albin 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 New Albin
- The average income of a New Albin resident is $21,633 a year. The US average is $28,555 a year.
- The Median household income of a New Albin resident is $49,000 a year. The US average is $69,021 a year.