New Albany, MS is an affordable place to live with a median two-bedroom rent of $750 compared to the US median rental rate for two bedrooms at $1,430. Grocery costs are also low with an index of 97 versus 100 in the US. Local companies such as First Financial Bank and New Albany Coca-Cola Bottling Company offer services and products ranging from financial services to food supplies in New Albany. Civic organizations such as New Albany Main Street Association help promote economic growth by improving local businesses. The cost of living in New Albany is more affordable than many other cities due to its low rents and overall lower prices for goods and services.
New Albany has an unemployment rate of 5.5%. The US average is 6.0%.
New Albany has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 43.5%, which is higher than the US average of 33.5%.
Tax Rates for New Albany
- The Sales Tax Rate for New Albany is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New Albany is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New Albany
- The average income of a New Albany resident is $21,931 a year. The US average is $28,555 a year.
- The Median household income of a New Albany resident is $42,154 a year. The US average is $69,021 a year.