Melrose, OH is a small town with a population of approximately 500 people. It's known for its friendly atmosphere and plenty of outdoor activities for locals and visitors alike. Melrose is home to many local businesses such as Smith Family Farm, Melrose Pharmacy, KEM Carpet & Flooring, and Melrose Towing Services. Rent in Melrose is much lower than the average 2 Bedroom rate in the United States, with an average rent of only $720 compared to the US average of $1430. Additionally, groceries in Melrose are also more affordable with a Grocery Cost Index of 89 compared to the US average of 100. This makes Melrose an ideal location for people looking for low-cost living without sacrificing amenities or quality of life.
Melrose has an unemployment rate of 3.8%. The US average is 6.0%.
Melrose has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 23.0%, which is lower than the US average of 33.5%.
Tax Rates for Melrose
- The Sales Tax Rate for Melrose is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Melrose is 4.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Melrose
- The average income of a Melrose resident is $16,445 a year. The US average is $28,555 a year.
- The Median household income of a Melrose resident is $62,656 a year. The US average is $69,021 a year.