Red Oak, IA is a lovely small town located in southwest Iowa. It is home to around 5,000 residents and offers a friendly community atmosphere. The cost of living in Red Oak is much lower than the US average with rent for 2 Bedrooms coming in at just $980 compared to the national average of $1,430. Additionally, groceries are quite inexpensive with an index score of 93 versus 100 for the whole country.
The economy of Red Oak is supported by several local businesses including DeRoo Manufacturing Inc., Freedom Bank and Trust, and Mahaska Bottling Company. Additionally, the city boasts several local restaurants such as Big Al’s BBQ Joint and Good Ol’ Days Cafe & Pizzeria. With its low cost of living and supportive local businesses, Red Oak provides a great place to live and work!
Red Oak has an unemployment rate of 3.9%. The US average is 6.0%.
Red Oak 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 19.0%, which is lower than the US average of 33.5%.
Tax Rates for Red Oak
- The Sales Tax Rate for Red Oak is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Red Oak 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 Red Oak
- The average income of a Red Oak resident is $20,262 a year. The US average is $28,555 a year.
- The Median household income of a Red Oak resident is $48,533 a year. The US average is $69,021 a year.