Northwood, OH is a small city located in the northwest corner of Ohio near Toledo. It has a population of around 5,200 people and is home to several major companies, such as Owens Corning and Libbey Glass. It has a relatively low cost of living when considering rent for a two-bedroom apartment at only $900 compared to the US average of $1,430 and grocery costs index at 92 versus 100 in the United States. Northwood is also conveniently located near larger cities such as Detroit and Cleveland which are both about an hour and a half away. This makes it easy for those looking for more entertainment or job opportunities while still enjoying the charm of Northwood’s smaller hometown feel.
Northwood has an unemployment rate of 4.2%. The US average is 6.0%.
Northwood 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 26.3%, which is lower than the US average of 33.5%.
Tax Rates for Northwood
- The Sales Tax Rate for Northwood is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Northwood is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Northwood
- The average income of a Northwood resident is $27,057 a year. The US average is $28,555 a year.
- The Median household income of a Northwood resident is $72,434 a year. The US average is $69,021 a year.