Cedar Rapids, IA (52402) is a city in Linn County with a population of over 130,000 people. The cost of living in Cedar Rapids is very affordable, with the 2 bedroom rent being $1,010 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Cedar Rapids is 95 versus 100 in the US. Therefore, those considering relocating to the area will find that it is more economical than other cities.
The city has a strong economy due to its many local companies such as Rockwell Collins Aerospace Solutions and Mercy Medical Center. Other major employers include The Eastern Iowa Airport, Stoney Creek Inn & Conference Center and Waypoint Services Incorporated. All these factors make Cedar Rapids an attractive city for businesses and individuals alike due to its low cost of living and high employment opportunities.
Cedar Rapids (zip 52402) has an unemployment rate of 5.9%. The US average is 6.0%.
Cedar Rapids (zip 52402) has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Cedar Rapids (zip 52402)
- The Sales Tax Rate for Cedar Rapids (zip 52402) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cedar Rapids (zip 52402) 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 Cedar Rapids (zip 52402)
- The average income of a Cedar Rapids (zip 52402) resident is $31,556 a year. The US average is $28,555 a year.
- The Median household income of a Cedar Rapids (zip 52402) resident is $65,787 a year. The US average is $69,021 a year.