Stanhope, IA (Zip Code 50246) is a small county seat town located in Hamilton County. It has a population of just over 500 people and is known for its rural lifestyle. With an average 2 Bedroom rent at $900/month, it is much more affordable than the US average of $1,430/month. The grocery cost index in Stanhope is also much lower than the national index; at 94 compared to 100.
Stanhope is home to a few key businesses that are vital to the success of the local economy including Farmers Coop Grain & Feed Mill, Stanhope Locker Inc., Heartland Coop, and Stanley’s Business Services LLC. Each one of these companies provide essential services to residents such as grain storage, meat processing, propane gas delivery and accounting services. Without these companies, residents would have to travel outside of Stanhope for many everyday necessities. This makes them essential to the wellbeing of those living here and keeps money flowing into the local economy.
Stanhope (zip 50246) has an unemployment rate of 4.3%. The US average is 6.0%.
Stanhope (zip 50246) has seen the job market decrease by -4.4% over the last year. Future job growth over the next ten years is predicted to be 23.1%, which is lower than the US average of 33.5%.
Tax Rates for Stanhope (zip 50246)
- The Sales Tax Rate for Stanhope (zip 50246) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Stanhope (zip 50246) 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 Stanhope (zip 50246)
- The average income of a Stanhope (zip 50246) resident is $34,421 a year. The US average is $37,638 a year.
- The Median household income of a Stanhope (zip 50246) resident is $57,500 a year. The US average is $69,021 a year.