Morgantown, Indiana (Zip Code 46160) is located in Johnson County and has an estimated population of 1,157 people. The median 2 bedroom rent in Morgantown is $940, while the US median is $1,430. This makes Morgantown a great place to live with lower costs than the national average. Additionally, Morgantown's Grocery Cost Index is 96 versus 100 in the United States which again makes it affordable to live here.
The economy in Morgantown is based primarily on small businesses such as Ace Hardware and The Joint Bar & Grill. There are also other local businesses that make up this vibrant community like Advanced Automotive Repair, A Plus Painting & Remodeling, Jenson Home Care Services and more. The local economy continues to grow with both small and large businesses coming into town such as Love’s Travel Stop & Country Stores Inc., Donsco Inc., and Tri-State Water Treatment LLC. All of these businesses contribute to making Morgantown a great place to live with a cost of living that is below national standards thanks to its low rent fees and grocery prices.
Morgantown (zip 46160) has an unemployment rate of 3.9%. The US average is 6.0%.
Morgantown (zip 46160) has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 37.0%, which is higher than the US average of 33.5%.
Tax Rates for Morgantown (zip 46160)
- The Sales Tax Rate for Morgantown (zip 46160) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Morgantown (zip 46160) is 5.4%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Morgantown (zip 46160)
- The average income of a Morgantown (zip 46160) resident is $28,906 a year. The US average is $37,638 a year.
- The Median household income of a Morgantown (zip 46160) resident is $58,268 a year. The US average is $69,021 a year.