Russellville, MO is a small town located in the central part of Missouri with a population of about 500 people. It is known for its rural and agricultural economy with major employers including Whittaker Farms, Hilltop Orchards, and Boasey Farms. Despite its small size, Russellville is an attractive destination for many due to its low cost of living. This includes rent which averages around $700 for a two bedroom apartment in comparison to the national average of $1,430. Groceries are also much cheaper in Russellville with its grocery cost index rated at 96 compared to 100 in the United States on average. The overall cost savings make it ideal for those looking to settle down or retire in a tranquil setting without breaking their budget.
Russellville has an unemployment rate of 3.1%. The US average is 6.0%.
Russellville has seen the job market decrease by -1.7% over the last year. Future job growth over the next ten years is predicted to be 24.7%, which is lower than the US average of 33.5%.
Tax Rates for Russellville
- The Sales Tax Rate for Russellville is 5.7%. The US average is 7.3%.
- The Income Tax Rate for Russellville 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 Russellville
- The average income of a Russellville resident is $23,605 a year. The US average is $37,638 a year.
- The Median household income of a Russellville resident is $47,188 a year. The US average is $69,021 a year.