47590 Velpen, IN is a town located in Pike County, Indiana. It has a population of just 297 people according to the 2020 US Census. Despite its small population, 47590 Velpen is home to many exciting businesses and amenities. The area offers two bedroom rental prices of $750 per month, which is significantly lower than the national average rent of $1,430. In terms of groceries, the grocery cost index here is 88 versus 100 nationally. \nLocal companies and amenities include the Pierce's Market for groceries, Davis Township Volunteer Fire Department for safety services, and a few restaurants such as Elmer's Diner and D & G Cafe. There are also plenty of outdoor activities nearby such as hiking trails at Patoka Lake State Park or fishing spots along Patoka River. With its affordable housing costs and numerous recreational activities in the area, 47590 Velpen is an ideal place to live for people looking to settle down in a smaller community.
Velpen (zip 47590) has an unemployment rate of 4.5%. The US average is 6.0%.
Velpen (zip 47590) has seen the job market decrease by -2.9% over the last year. Future job growth over the next ten years is predicted to be 30.3%, which is lower than the US average of 33.5%.
Tax Rates for Velpen (zip 47590)
- The Sales Tax Rate for Velpen (zip 47590) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Velpen (zip 47590) is 3.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Velpen (zip 47590)
- The average income of a Velpen (zip 47590) resident is $31,852 a year. The US average is $28,555 a year.
- The Median household income of a Velpen (zip 47590) resident is $43,289 a year. The US average is $69,021 a year.