Oelwein, IA is a small city located in Fayette County with a population of about 6,500. The cost of rent for a 2 bedroom apartment in Oelwein is $720 per month, making it much more affordable than the US average of $1,430. Additionally, the Grocery Cost Index in Oelwein is 92 compared to 100 nationwide.
Oelwein has a number of local companies and attractions that make it an attractive place to live. Notable local businesses include the family-owned Hy-Vee grocery store, Auto Zone, and Tractor Supply Co. Popular attractions include the historic German American Heritage Center and Museum and the Cedar Valley Nature Trail – a hiking trail which follows the Cedar River from Oelwein to Iowa City.
Oelwein (zip 50662) has an unemployment rate of 5.1%. The US average is 6.0%.
Oelwein (zip 50662) has seen the job market decrease by -5.7% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Oelwein (zip 50662)
- The Sales Tax Rate for Oelwein (zip 50662) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Oelwein (zip 50662) 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 Oelwein (zip 50662)
- The average income of a Oelwein (zip 50662) resident is $25,051 a year. The US average is $37,638 a year.
- The Median household income of a Oelwein (zip 50662) resident is $38,987 a year. The US average is $69,021 a year.