Norway, IA is a small town located in the mid-western United States. It is a great place to live with its serene environment and friendly people. With 2 bedroom rent being only $930 in comparison to the US average of $1,430, it is an affordable place to live. Local businesses such as Norway Bakery, Welding Supply & Equipment Co., and Norway Lumber Company help keep the cost of living low through their competitive pricing. Furthermore, the Grocery Cost Index in Norway is 94 compared to 100 in the US which further reinforces its affordability. All of these reasons make Norway an ideal place for individuals and families seeking value on their living expenses.
Norway has an unemployment rate of 5.0%. The US average is 6.0%.
Norway has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for Norway
- The Sales Tax Rate for Norway is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Norway 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 Norway
- The average income of a Norway resident is $25,483 a year. The US average is $28,555 a year.
- The Median household income of a Norway resident is $77,000 a year. The US average is $69,021 a year.