Akron, Iowa is a small town with a population of 5,1001 located in Plymouth County. Its cost of living index is below the US average at 94. This means that goods and services such as groceries are relatively cheaper than many places in the U.S. The rent for two bedroom apartments here is also more affordable than other parts of the country at right around $710/month on average, compared to $1,430/month nationally.
The local economy in Akron, IA rests mostly on agriculture and related industries which employ many local residents. Some major companies that have facilities in or near Akron include Frontier Co-op Manufacturing & Distribution, Hormel Foods Corporation, and Smithfield Foods Processing Plant.
Akron (zip 51001) has an unemployment rate of 3.1%. The US average is 6.0%.
Akron (zip 51001) has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 26.0%, which is lower than the US average of 33.5%.
Tax Rates for Akron (zip 51001)
- The Sales Tax Rate for Akron (zip 51001) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Akron (zip 51001) is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Akron (zip 51001)
- The average income of a Akron (zip 51001) resident is $32,096 a year. The US average is $37,638 a year.
- The Median household income of a Akron (zip 51001) resident is $57,169 a year. The US average is $69,021 a year.