Martin, TN is a small town located in Northwest Tennessee with a population of about 11,000. The cost of living is relatively low compared to other areas in the US, with rent for a two-bedroom apartment being around $780 per month and the grocery cost index well below the US average at 90 versus 100. As such, Martin offers excellent affordability for those who wish to live in a rural setting. Some major local companies that are based in Martin include UTM Aviation LLC, Farm Bureau Insurance of Tennessee, and Tennessee Valley Authority. All three offer great job opportunities for locals as well as contribute to the economic development of the area. While Martin is not as populous or prosperous as some larger cities in the United States, it provides an ideal cost-effective lifestyle for those who seek a comfortable home life without breaking their budget.
Martin has an unemployment rate of 4.6%. The US average is 6.0%.
Martin has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 33.0%, which is lower than the US average of 33.5%.
Tax Rates for Martin
- The Sales Tax Rate for Martin is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Martin is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Martin
- The average income of a Martin resident is $16,596 a year. The US average is $28,555 a year.
- The Median household income of a Martin resident is $37,487 a year. The US average is $69,021 a year.