50055 Collins, IA is a small rural town located in the Midwest region of the United States. This town is home to approximately 1,000 residents and is known for its friendly atmosphere. The cost of living in this area is quite reasonable compared to other parts of the country, with 2 bedroom rent averaging only $1,040 per month; well below the national average of $1,430. In addition, prices at grocery stores are quite low, with a Grocery Cost Index of 96 compared to 100 nationally.
This area boasts a variety of businesses including Collins Realty Group, which specializes in commercial and residential real estate services; Corn Belt Power Cooperative which provides electricity to many local families; and Meyers Family Farm which offers fresh produce and dairy products from local farmers. There are also numerous schools in the area such as Collins Elementary School which serves kindergarten through fourth grade students; Valley View High School which supports grades 5-12; and Iowa Central Community College for those who wish to continue their education beyond high school.
Collins (zip 50055) has an unemployment rate of 3.0%. The US average is 6.0%.
Collins (zip 50055) has seen the job market decrease by -5.8% over the last year. Future job growth over the next ten years is predicted to be 32.5%, which is lower than the US average of 33.5%.
Tax Rates for Collins (zip 50055)
- The Sales Tax Rate for Collins (zip 50055) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Collins (zip 50055) 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 Collins (zip 50055)
- The average income of a Collins (zip 50055) resident is $49,115 a year. The US average is $37,638 a year.
- The Median household income of a Collins (zip 50055) resident is $82,917 a year. The US average is $69,021 a year.