Melvin, IA (population 51350) is an ideal place to live for those seeking an affordable lifestyle. The average two bedroom rent in Melvin is only $690, compared to the national average of $1,430. Additionally, the Grocery Cost Index in Melvin is 92 versus 100 in the US. As a result of these cost-effective prices, many local businesses have thrived over time in this small but growing town. Popular businesses such as Bo's Diner and the Main Street Mall are favorite places for locals to shop and socialize. With its vibrant community and low rental prices, Melvin is a great place to call home!
Melvin (zip 51350) has an unemployment rate of 2.7%. The US average is 6.0%.
Melvin (zip 51350) has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Melvin (zip 51350)
- The Sales Tax Rate for Melvin (zip 51350) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Melvin (zip 51350) 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 Melvin (zip 51350)
- The average income of a Melvin (zip 51350) resident is $22,587 a year. The US average is $28,555 a year.
- The Median household income of a Melvin (zip 51350) resident is $57,885 a year. The US average is $69,021 a year.