Promise City, IA is a great place to live due to its relatively low cost of living compared to the rest of the United States. With an average 2 bedroom rent of $900, it is nearly 40% lower than the national average of $1,430. Additionally, grocery costs are 8% lower in Promise City than the US average according to the Grocery Cost Index. The city also holds a number of local businesses that make living there all the more attractive. These include Lucky’s Bakery, Miller’s Butcher Shop, and Preston's Pizza Parlor. Each provides excellent service and top quality products for residents of Promise City.
Promise City has an unemployment rate of 3.6%. The US average is 6.0%.
Promise City has seen the job market decrease by -4.2% 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 Promise City
- The Sales Tax Rate for Promise City is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Promise 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 Promise City
- The average income of a Promise City resident is $21,666 a year. The US average is $37,638 a year.
- The Median household income of a Promise City resident is $35,208 a year. The US average is $69,021 a year.