Janesville-Beloit, WI Metro Area is known for its affordability in the Midwest region of the country. The average two bedroom rent stands at $1,020, significantly lower than the US average of $1,430. This means that it's more affordable to live in Janesville-Beloit than the rest of the country. Additionally, the grocery cost index for Janesville-Beloit is 93 compared to 100 in the US, indicating a lower cost of living than elsewhere in the nation. This attractiveness has allowed many companies to thrive here like Blain’s Farm & Fleet and Follett Corporation which produces Bearcats Education Solutions. The quality of life in this Metro Area makes it a great place to call home for people of all ages and backgrounds.
Janesville-Beloit Metro Area has an unemployment rate of 5.1%. The US average is 6.0%.
Janesville-Beloit Metro Area has seen the job market decrease by -3.8% over the last year. Future job growth over the next ten years is predicted to be 34.4%, which is higher than the US average of 33.5%.
Tax Rates for Janesville-Beloit Metro Area
- The Sales Tax Rate for Janesville-Beloit Metro Area is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Janesville-Beloit Metro Area 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 Janesville-Beloit Metro Area
- The average income of a Janesville-Beloit Metro Area resident is $32,275 a year. The US average is $37,638 a year.
- The Median household income of a Janesville-Beloit Metro Area resident is $65,518 a year. The US average is $69,021 a year.