Milan, IN, also known as 47031 is a small town located in Ripley County. It has a population of 3,438 people and offers an affordable cost of living with 2 bedroom rent costing $980 compared to the US average of $1,430. The grocery cost index in Milan is 95 compared to the US average of 100. Milan's economy is primarily supported by local businesses such as Central Indiana Process Services, Architexture Design & Build, and Cameron & Smith CPA LLC. Central Indiana Process Services offers process serving services for court documents while Architexture Design & Build specializes in home design and custom building projects. Cameron & Smith CPA LLC provides accounting services for both personal and business needs.
Milan (zip 47031) has an unemployment rate of 3.9%. The US average is 6.0%.
Milan (zip 47031) has seen the job market decrease by -6.5% over the last year. Future job growth over the next ten years is predicted to be 34.3%, which is higher than the US average of 33.5%.
Tax Rates for Milan (zip 47031)
- The Sales Tax Rate for Milan (zip 47031) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Milan (zip 47031) is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Milan (zip 47031)
- The average income of a Milan (zip 47031) resident is $37,942 a year. The US average is $37,638 a year.
- The Median household income of a Milan (zip 47031) resident is $60,861 a year. The US average is $69,021 a year.