Norwood, MO is a small town nestled between St. Louis and Springfield in Missouri. It has a population of just over 1,000 people and its cost of living is about 8% lower than the US average. Rent for two bedroom apartments in Norwood is about $760 per month, making it an affordable alternative to larger cities nearby. The Grocery Cost Index in Norwood is 93 compared to 100 in the US, further evidence that costs are lower here.
The town offers many different amenities that include a grocery store, restaurants, banks, schools, and parks. Local businesses such as Ozark Country Store, Wolf's Den Restaurant & Bar, Realife Car Wash & Lube Center can be found there as well.
Norwood has an unemployment rate of 4.1%. The US average is 6.0%.
Norwood has seen the job market decrease by -2.5% over the last year. Future job growth over the next ten years is predicted to be 19.5%, which is lower than the US average of 33.5%.
Tax Rates for Norwood
- The Sales Tax Rate for Norwood is 6.1%. The US average is 7.3%.
- The Income Tax Rate for Norwood 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 Norwood
- The average income of a Norwood resident is $18,261 a year. The US average is $37,638 a year.
- The Median household income of a Norwood resident is $32,344 a year. The US average is $69,021 a year.