Canton, Ohio (44705) is a prime example of a city with a low cost of living but still provides plenty of opportunities for residents. The two bedroom rent averages at $860 per month, which is significantly lower than the national average of $1,430. This affordability also extends to found in the grocery cost index in Canton, coming in at 92 compared to the US baseline of 100.
Canton's economy is driven by companies such as The Timken Company, Diebold Nixdorf, Aultman Hospital and Walsh University. It has seen steady job growth in recent years as many businesses are taking advantage of its great infrastructure and access to resources. Additionally, Canton's unemployment rate has fallen from 6.5% in 2016 to 5% in 2019; showing great progress in local jobs and economic activity.
Canton (zip 44705) has an unemployment rate of 6.5%. The US average is 6.0%.
Canton (zip 44705) has seen the job market decrease by -5.0% over the last year. Future job growth over the next ten years is predicted to be 22.1%, which is lower than the US average of 33.5%.
Tax Rates for Canton (zip 44705)
- The Sales Tax Rate for Canton (zip 44705) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Canton (zip 44705) is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Canton (zip 44705)
- The average income of a Canton (zip 44705) resident is $20,266 a year. The US average is $37,638 a year.
- The Median household income of a Canton (zip 44705) resident is $35,763 a year. The US average is $69,021 a year.