Storm Lake, IA Metro Area is an attractive place to live due to its affordable cost of living. The average 2 bedroom rent in the area is $810 per month which is significantly lower than the national average of $1,430. Additionally, the Grocery Cost Index in Storm Lake Metro Area is 93 versus 100 in the US, indicating that food prices are also lower than the national average. This makes Storm Lake a great option for those on a budget who wish to enjoy city life without breaking the bank.
The local economy in Storm Lake has much to offer with companies such as Hy-Vee Food Store, MidAmerican Energy Company, and King's Pointe Waterpark Resort providing employment opportunities for residents. The area also hosts events like Music in the Park and Farmer's Market throughout the year which create a lively atmosphere and provide entertainment for both locals and visitors alike.
Storm Lake Metro Area has an unemployment rate of 3.0%. The US average is 6.0%.
Storm Lake Metro Area has seen the job market decrease by -3.2% over the last year. Future job growth over the next ten years is predicted to be 28.3%, which is lower than the US average of 33.5%.
Tax Rates for Storm Lake Metro Area
- The Sales Tax Rate for Storm Lake Metro Area is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Storm Lake 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 Storm Lake Metro Area
- The average income of a Storm Lake Metro Area resident is $28,513 a year. The US average is $37,638 a year.
- The Median household income of a Storm Lake Metro Area resident is $53,645 a year. The US average is $69,021 a year.