Redwood, NY is a charming small town located in the northern part of New York State. This community offers locals and visitors a tranquil atmosphere with plenty of recreational activities to enjoy. From local hiking trails to nearby lakes, Redwood's outdoor lifestyle provides endless fun possibilities. The cost of living in Redwood is significantly lower than the US average, with 2 bedroom rent costing $1,110 a month compared to the US average of $1,430. Additionally, groceries are also less expensive with the Grocery Cost Index in Redwood being 98 as opposed to 100 nationally. Redwood is home to many locally owned businesses that offer excellent products and services including Smith's Tire Service, H&L Hardware Store and Whitegrass Cafe & Bakery.
Redwood has an unemployment rate of 7.1%. The US average is 6.0%.
Redwood has seen the job market decrease by -4.5% over the last year. Future job growth over the next ten years is predicted to be 16.3%, which is lower than the US average of 33.5%.
Tax Rates for Redwood
- The Sales Tax Rate for Redwood is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Redwood 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 Redwood
- The average income of a Redwood resident is $28,354 a year. The US average is $37,638 a year.
- The Median household income of a Redwood resident is $0 a year. The US average is $69,021 a year.