Oaktown, IN is a small city located in the state of Indiana. It has a population of around 4,756 people and a low cost of living. The average 2 Bedroom rent in Oaktown is $850, which is substantially lower than the US average of $1,430. Furthermore, the grocery cost index for Oaktown is 90 as compared to 100 for the United States.
Oaktown offers plenty of local companies that help create jobs in the area. These businesses include Oakwood Industries Inc., Oaktown Auto Parts Store, Oaktown Country Club, and K&B Grocery Stores. All these firms contribute to the economic wellbeing of the residents and provide much-needed employment opportunities.
Oaktown (zip 47561) has an unemployment rate of 3.8%. The US average is 6.0%.
Oaktown (zip 47561) has seen the job market decrease by -4.6% over the last year. Future job growth over the next ten years is predicted to be 24.2%, which is lower than the US average of 33.5%.
Tax Rates for Oaktown (zip 47561)
- The Sales Tax Rate for Oaktown (zip 47561) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Oaktown (zip 47561) is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oaktown (zip 47561)
- The average income of a Oaktown (zip 47561) resident is $29,862 a year. The US average is $37,638 a year.
- The Median household income of a Oaktown (zip 47561) resident is $42,446 a year. The US average is $69,021 a year.