Lowell, OH is a small town located in the heart of Ohio with a population of around 1,700 people. The cost of living is quite low compared to the national average due to its rural location and small size. This translates into lower rental costs for those looking to rent an apartment - 2 bedroom apartments can be found for just $790/month, much lower than the national average of $1,430/month! The grocery cost index in Lowell is also lower at 98 compared to 100 in the US.
Lowell has plenty of local amenities for residents to enjoy such as Granny's Donut Shop, M&M Bar & Restaurant, Lowe's Antique Mall and the Convenient Food Mart. These local businesses contribute to the unique charm of Lowell. Additionally, having access to these stores and restaurants near your home creates convenience that affects rental costs since you don't have to travel far for basic amenities such as groceries or dining out. Overall, living in Lowell offers great value for money due to its excellent local amenities and low rental prices.
Lowell has an unemployment rate of 5.1%. The US average is 6.0%.
Lowell has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Lowell
- The Sales Tax Rate for Lowell is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Lowell is 3.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lowell
- The average income of a Lowell resident is $20,091 a year. The US average is $28,555 a year.
- The Median household income of a Lowell resident is $36,458 a year. The US average is $69,021 a year.