Richmond, Indiana (47374) is a thriving city located in east central Indiana. It has a population of about 37,000 and boasts numerous recreational opportunities such as the Whitewater Canal State Historic Site and the Richmond Art Museum. The median 2 bedroom rent in Richmond is $980 which is significantly lower than the US median of $1,430, making it an affordable place to live. Additionally, grocery costs in Richmond are 91% of the US average which adds to its appeal for prospective residents.
Richmond is home to many local companies including Reid Hospital & Health Care Services, Wayne Bank & Trust Co., Crete Carrier Corporation, and Meijer Distribution Inc. Each of these companies provides jobs and other economic opportunities to the community. There are also many small businesses that contribute to the city’s economy including restaurants, bars, and retail stores.
Richmond (zip 47374) has an unemployment rate of 4.7%. The US average is 6.0%.
Richmond (zip 47374) has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 29.7%, which is lower than the US average of 33.5%.
Tax Rates for Richmond (zip 47374)
- The Sales Tax Rate for Richmond (zip 47374) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Richmond (zip 47374) is 4.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Richmond (zip 47374)
- The average income of a Richmond (zip 47374) resident is $19,934 a year. The US average is $28,555 a year.
- The Median household income of a Richmond (zip 47374) resident is $45,517 a year. The US average is $69,021 a year.