New Madison, OH is a small town in the Southwest corner of Ohio, located less than an hour drive from both Dayton and Cincinnati. With its low 2 bedroom rent rates of $810 compared to the US average of $1430, it's an affordable place to live. The Grocery Cost Index in New Madison is 95 compared to 100 in the US; making it a great option for budget-minded shoppers.
The town of New Madison offers some well known businesses and amenities including 4B’s Market, Subway, Dairy Queen, Dollar General and Shell Gas Station. There are lots of local attractions like the New Madison Public Library with its free events for families or nature enthusiasts can enjoy trips to nearby Arcanum Pond Park for some outdoor entertainment. There are also many restaurants in town including Miller & Company Restaurant Bar & Grille - offering delicious home-style cooking - Big Brothers Pizza Cafe offering classic Italian dishes and Alice’s Restaurant serving up Mexican cuisine.
New Madison has an unemployment rate of 3.7%. The US average is 6.0%.
New Madison has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for New Madison
- The Sales Tax Rate for New Madison is 7.3%. The US average is 7.3%.
- The Income Tax Rate for New Madison 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 New Madison
- The average income of a New Madison resident is $20,696 a year. The US average is $28,555 a year.
- The Median household income of a New Madison resident is $58,824 a year. The US average is $69,021 a year.