Renwick, IA is a small town located in central Iowa. It is known for its low cost of living, with the median two bedroom rent being $720 per month compared to the US median of $1,430 a month. Not only are rental costs cheaper in Renwick but groceries are also more affordable. The Grocery Cost Index in Renwick is 92 while the Index in the US is 100. This makes spending on food about 8% less than what one would pay in other regions of the US. Residents have access to local businesses such as Burghardt’s Appliance & Furniture, LaMotte’s Repair & Rental and Renwick Feed & Supply which offer convenience and competitive prices on goods and services. All this makes Renwick a great option for those looking for an affordable place to live with local amenities that make life easier.
Renwick has an unemployment rate of 3.9%. The US average is 6.0%.
Renwick has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 24.3%, which is lower than the US average of 33.5%.
Tax Rates for Renwick
- The Sales Tax Rate for Renwick is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Renwick 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 Renwick
- The average income of a Renwick resident is $26,511 a year. The US average is $37,638 a year.
- The Median household income of a Renwick resident is $43,438 a year. The US average is $69,021 a year.