Merrill, Wisconsin is a small city with a population of around 8,800 people. It is located in Lincoln County and has several amenities for residents to take advantage of. The cost of living in Merrill is below the national average, as evidenced by the 2 bedroom rent which is $840 compared to the US 2 bedroom rate of $1,430. Additionally, the Grocery Cost Index in Merrill is 92 versus 100 in the US. This makes Merrill an attractive place to live for those looking for affordability.
Merrill has several local companies that contribute to its economy including Orthopedic & Spine Therapy Specialists, Dowell Automotive Services LLC., and Central Wisconsin Cabinetry LLC. These businesses provide employment opportunities and help fuel economic growth in the area. There are also various educational institutions within close proximity such as Northcentral Technical College and University of Wisconsin- Marathon County which offer additional economic opportunities.
Merrill has an unemployment rate of 4.9%. The US average is 6.0%.
Merrill has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 35.3%, which is higher than the US average of 33.5%.
Tax Rates for Merrill
- The Sales Tax Rate for Merrill is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Merrill is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Merrill
- The average income of a Merrill resident is $23,564 a year. The US average is $28,555 a year.
- The Median household income of a Merrill resident is $46,973 a year. The US average is $69,021 a year.