50842 Cromwell, IA is a small town located in Kossuth County with a population of approximately 295 people. Rent for a two-bedroom apartment in this community is considerably lower than the national average, costing only $700 per month. This gives residents an opportunity to save money while still having access to basic amenities. Furthermore, grocery costs are also well below the national index score of 100, standing at 93. This allows residents to purchase groceries at more competitive prices. Businesses in Cromwell include The Olde Main Street Station pub and restaurant, Cromwell Corner Cafe, Crawford's Autobody & Paint Shop and Kossuth County Bank & Trust Co., all of which provide local services to the community. All in all, Cromwell offers its residents a much lower cost of living compared to other parts of the country as rent is nearly half of what it would be nationally and grocery costs are 7% lower than the US average.
Cromwell (zip 50842) has an unemployment rate of 4.8%. The US average is 6.0%.
Cromwell (zip 50842) has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 20.9%, which is lower than the US average of 33.5%.
Tax Rates for Cromwell (zip 50842)
- The Sales Tax Rate for Cromwell (zip 50842) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cromwell (zip 50842) is 9.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cromwell (zip 50842)
- The average income of a Cromwell (zip 50842) resident is $28,304 a year. The US average is $28,555 a year.
- The Median household income of a Cromwell (zip 50842) resident is $50,000 a year. The US average is $69,021 a year.