Rapids, NY is a small town located in the heart of Upstate New York. It has a population of around 8,000 people and is home to several local businesses including Rapids Auto Repair, Rapids Cafe & Bakery, and Rapids Plumbing Company. The cost of living in Rapids is quite reasonable compared to other towns in the state. For example, the average two-bedroom rent price for apartments in Rapids is $1,000 per month which is substantially less than the US average of $1,430. Additionally, the grocery cost index in Rapids is 100 while it’s 100 nationally. This makes it easier for residents to shop locally and save money on everyday items.
Rapids has an unemployment rate of 7.7%. The US average is 6.0%.
Rapids 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 Rapids
- The Sales Tax Rate for Rapids is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Rapids 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 Rapids
- The average income of a Rapids resident is $43,253 a year. The US average is $37,638 a year.
- The Median household income of a Rapids resident is $92,083 a year. The US average is $69,021 a year.