Wellman, IA is a small town in Iowa county with a population of about 1,765 people. It is known for its low living costs and many employment opportunities. The average two-bedroom rent in this town is $1,070, which is significantly lower than the US average of $1,430. The Grocery Cost Index in Wellman is also 97 compared to the US average of 100. This proves that Wellman has affordable living costs when compared to other areas. \nThere are many great companies based out of Wellman, such as MJM Electric and M & M Contractors Inc., both providing quality services and products ranging from small-scale electrical work to large-scale construction projects. Other major employers in the area include Community Health Network and Precast LLC.
Wellman has an unemployment rate of 4.2%. The US average is 6.0%.
Wellman has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 27.3%, which is lower than the US average of 33.5%.
Tax Rates for Wellman
- The Sales Tax Rate for Wellman is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Wellman 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 Wellman
- The average income of a Wellman resident is $23,683 a year. The US average is $28,555 a year.
- The Median household income of a Wellman resident is $51,364 a year. The US average is $69,021 a year.