Peninsula, OH is a small town located near Akron in Summit County. It has experienced steady growth in recent years, with a number of new businesses opening. Rent for a two-bedroom apartment is significantly lower than the national average at $1,170 per month, making Peninsula an affordable place to live. The grocery cost index is also slightly lower than the US average at 103 versus 100. This makes groceries more affordable in Peninsula than in other areas of the country.
There are several large companies with offices in Peninsula that provide good job potential for residents. These include US Acrylic, John S Knight Center, and Summa Health System. Other smaller businesses like Nature’s Garden Delivered and Riverview Cafe are also popular employers in the area.
Overall, Peninsula is a great choice for those looking for an affordable place to live and work. With relatively low rent costs and grocery prices compared to other parts of the country, as well as numerous job opportunities from large employers and small businesses alike, it can be an ideal location for families and individuals alike.
Peninsula has an unemployment rate of 5.7%. The US average is 6.0%.
Peninsula has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 26.4%, which is lower than the US average of 33.5%.
Tax Rates for Peninsula
- The Sales Tax Rate for Peninsula is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Peninsula 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 Peninsula
- The average income of a Peninsula resident is $37,591 a year. The US average is $28,555 a year.
- The Median household income of a Peninsula resident is $120,313 a year. The US average is $69,021 a year.