Newell, IA is a small town located in Iowa. It is a great place to live for those who are looking for affordability and look to avoid the hustle and bustle of a large city. The cost of living in Newell, IA is much lower than the national average, with two bedroom rent being only $780 compared to the US average of $1,430. The Grocery Cost Index in Newell, IA is also lower than the national average at 94 versus 100. There are many local companies that make up the small business community of Newell, IA such as Valley Thrift Store, Zander's Auto Repair, Newell Public Library, and Alpena Construction Company.
Newell has an unemployment rate of 3.0%. The US average is 6.0%.
Newell 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 28.3%, which is lower than the US average of 33.5%.
Tax Rates for Newell
- The Sales Tax Rate for Newell is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Newell 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 Newell
- The average income of a Newell resident is $20,348 a year. The US average is $28,555 a year.
- The Median household income of a Newell resident is $57,054 a year. The US average is $69,021 a year.