Newfane, NY is a small town located in Niagara County. It is known for its historic downtown area with its many shops and restaurants. The cost of living in Newfane is significantly lower than the national average due to the town's low rent prices. A two bedroom rental in Newfane costs an average of $1,010 per month compared to the national average of $1,430 for a two bedroom rental. Additionally, the grocery cost index in Newfane is 99 while it is higher at 100 in the US.
The area offers plenty of activities from outdoor recreation such as hiking trails and campgrounds to indoor attractions like the Historic Palace Theatre. There are also local businesses such as the local farmers' market or specialty stores like Hot Mama’s Kitchen that offers homemade-style cooking. Other attractions include wineries and farms throughout the area offering activities such as pick your own fruits and vegetables.
Newfane has an unemployment rate of 7.7%. The US average is 6.0%.
Newfane has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 22.8%, which is lower than the US average of 33.5%.
Tax Rates for Newfane
- The Sales Tax Rate for Newfane is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Newfane is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newfane
- The average income of a Newfane resident is $25,327 a year. The US average is $28,555 a year.
- The Median household income of a Newfane resident is $60,918 a year. The US average is $69,021 a year.