Farwell, NE is a small rural town located in the Midwestern United States. It is known for its low cost of living and relaxed lifestyle. The median rent for a two-bedroom apartment is $850 compared to $1,430 across the United States. The grocery cost index in Farwell is also lower than the national average with 92 versus 100. Local companies include Heartland Co-Op, a feed mill and agricultural supply store; and Spot On Technology Solutions, an IT services provider. Living in Farwell is more economical than living in other parts of the US due to its lower housing costs and groceries prices. People who choose to live here enjoy a slower pace of life away from large cities but still have access to amenities such as shopping centers, restaurants, parks, schools and libraries.
Farwell has an unemployment rate of 2.4%. The US average is 6.0%.
Farwell has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 27.0%, which is lower than the US average of 33.5%.
Tax Rates for Farwell
- The Sales Tax Rate for Farwell is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Farwell is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Farwell
- The average income of a Farwell resident is $17,460 a year. The US average is $28,555 a year.
- The Median household income of a Farwell resident is $55,000 a year. The US average is $69,021 a year.