Monroe, NC is an ideal city for those looking to move and find more affordable living. Compared to the national average, 2 Bedroom rent in Monroe, NC is about $240 cheaper at $1,190 per month. Grocery cost index in the city is also significantly lower than the US with 97 versus 100 respectively. Monroe has a variety of local businesses that have contributed to its vibrant economy such as Sure-Fit Products Inc., Amazon Fulfillment Center, Bradshaw Automotive Group Inc., and Monroe Truck Equipment Co. Each of these companies offers unique employment opportunities and helps keep the economy of Monroe healthy.
Monroe has an unemployment rate of 5.3%. The US average is 6.0%.
Monroe has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 41.6%, which is higher than the US average of 33.5%.
Tax Rates for Monroe
- The Sales Tax Rate for Monroe is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Monroe is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Monroe
- The average income of a Monroe resident is $18,981 a year. The US average is $28,555 a year.
- The Median household income of a Monroe resident is $58,180 a year. The US average is $69,021 a year.