Norwood, NY is a beautiful rural town located in St. Lawrence County. The cost of living in Norwood is substantially lower than the US average, with a 2 bedroom rent at only $930 compared to the national average of $1,430. Grocery prices in Norwood are also much more affordable than other parts of the country at just 96 on the index versus 100 nationwide. There are many local businesses in Norwood that help contribute to its economy, such as: Subway, Church Street Market, and Elm Creek Store. With its reasonable cost of living and abundance of local companies, Norwood is an ideal place to live for those who want to save money without sacrificing convenience or quality of life.
Norwood has an unemployment rate of 6.7%. The US average is 6.0%.
Norwood has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 20.9%, which is lower than the US average of 33.5%.
Tax Rates for Norwood
- The Sales Tax Rate for Norwood is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Norwood 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 Norwood
- The average income of a Norwood resident is $22,013 a year. The US average is $28,555 a year.
- The Median household income of a Norwood resident is $69,091 a year. The US average is $69,021 a year.