Newark, MO, is a small town located in northeastern Missouri with an estimated population of just under 900 people. Despite its size, Newark offers many amenities to its residents. The local grocery stores offer items at a cost index of 94 – 6 points lower than the national average – allowing residents to purchase groceries for less. It also has a variety of restaurants and shops, such as Main Street Salon & Spa, Estes Drug Store & Soda Fountain, and The Pantry Cafe. The housing market is affordable; rent for a 2-bedroom apartment averages around $710 per month which is much cheaper than the US average of $1,430 per month. In general, Newark is a great option for those looking to live in an affordable environment with plenty of local amenities.
Newark has an unemployment rate of 3.3%. The US average is 6.0%.
Newark has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 24.1%, which is lower than the US average of 33.5%.
Tax Rates for Newark
- The Sales Tax Rate for Newark is 6.7%. The US average is 7.3%.
- The Income Tax Rate for Newark is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newark
- The average income of a Newark resident is $20,529 a year. The US average is $37,638 a year.
- The Median household income of a Newark resident is $50,938 a year. The US average is $69,021 a year.