Riceville, Iowa is a small town located in Mitchell County with a population of approximately 50466. The median 2 bedroom rent in Riceville is $850, which is lower than the national average of $1,430. Additionally, the Grocery Cost Index for Riceville is 93 versus 100 in the US. This indicates that the grocery items are generally less expensive in Riceville than they are nationally.
Riceville's local economy is primarily based on agriculture and related manufacturing services. The major employers include Hawkeye Renewables LLC, Dee-Ray Manufacturing Inc., and Cedar Valley Corporation. These companies provide employment opportunities to many members of the Riceville community. There are also several small businesses in the area such as Ace Hardware & Appliance, Virgil’s Barber Shop, and Duffy’s Pub & Grill that contribute to the vibrant economy of Riceville.
Riceville (zip 50466) has an unemployment rate of 4.8%. The US average is 6.0%.
Riceville (zip 50466) has seen the job market decrease by -4.5% over the last year. Future job growth over the next ten years is predicted to be 16.2%, which is lower than the US average of 33.5%.
Tax Rates for Riceville (zip 50466)
- The Sales Tax Rate for Riceville (zip 50466) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Riceville (zip 50466) 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 Riceville (zip 50466)
- The average income of a Riceville (zip 50466) resident is $25,407 a year. The US average is $37,638 a year.
- The Median household income of a Riceville (zip 50466) resident is $55,357 a year. The US average is $69,021 a year.