Cedar Rapids, IA Metro Area is a great place to live with a low cost of living. The average rent for a two-bedroom apartment is $900, which is much lower than the national average of $1,430. Additionally, the grocery cost index in Cedar Rapids is 96 compared to 100 in the US, making groceries more affordable here. Local businesses that make up the economy include Rockwell Collins, Alliant Energy Corporation, General Mills, and Verizon Wireless. With its lower costs and vibrant business climate, Cedar Rapids is an attractive city to live and work in.
Cedar Rapids Metro Area has an unemployment rate of 5.2%. The US average is 6.0%.
Cedar Rapids Metro Area 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 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Cedar Rapids Metro Area
- The Sales Tax Rate for Cedar Rapids Metro Area is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cedar Rapids Metro Area is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cedar Rapids Metro Area
- The average income of a Cedar Rapids Metro Area resident is $30,337 a year. The US average is $28,555 a year.
- The Median household income of a Cedar Rapids Metro Area resident is $70,210 a year. The US average is $69,021 a year.