51566 Red Oak, IA is a great place to live. It has an affordable rental rate of just $1,000 for two bedroom homes, significantly lower than the national average of $1,430. Furthermore, grocery cost index in the area is much lower as compared to U.S., making it easier for people to manage their budget. There are a number of local companies in 51566 Red Oak, IA such as Meyers Auto Parts, Highsmith Grocery and Bakery Store and Johnson Motors. These businesses provide essential services to the local community and serve as economic anchors in the region.
Red Oak (zip 51566) has an unemployment rate of 3.9%. The US average is 6.0%.
Red Oak (zip 51566) has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 19.0%, which is lower than the US average of 33.5%.
Tax Rates for Red Oak (zip 51566)
- The Sales Tax Rate for Red Oak (zip 51566) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Red Oak (zip 51566) 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 Red Oak (zip 51566)
- The average income of a Red Oak (zip 51566) resident is $22,119 a year. The US average is $28,555 a year.
- The Median household income of a Red Oak (zip 51566) resident is $53,470 a year. The US average is $69,021 a year.