Richwood, OH is a small city located in Union County. It is known for its rural charm and friendly people. The city is home to many small businesses such as Richwood Family Pharmacy, Richwood Trading Company, G & G Hardware Store, and Judy’s Country Kitchen. Richwood offers affordable rental prices compared to the national average with a two bedroom rent costing $1,020 versus the U.S average of $1,430. Residents in Richwood can also benefit from its lower grocery cost index of 97 compared to the U.S index of 100. This makes it ideal for people who want to live an affordable lifestyle without sacrificing quality of life.
Richwood has an unemployment rate of 3.4%. The US average is 6.0%.
Richwood has seen the job market decrease by -3.1% over the last year. Future job growth over the next ten years is predicted to be 34.7%, which is higher than the US average of 33.5%.
Tax Rates for Richwood
- The Sales Tax Rate for Richwood is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Richwood is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Richwood
- The average income of a Richwood resident is $33,264 a year. The US average is $37,638 a year.
- The Median household income of a Richwood resident is $57,962 a year. The US average is $69,021 a year.