Montpelier, VT is a charming city with a population of around 8,000 people. It is the capital of Vermont and the home to many local businesses such as Capitol Copy, McNeil & Reedy Real Estate, and North Branch Cafe. The cost of living in Montpelier is lower than the national average with two-bedroom rent at $1,036 compared to the U.S. average of $1,430 and grocery cost index at 109 versus 100 in the U.S. The economy of Montpelier is currently thriving with several major employers such as National Life Group Insurance Company, Union Mutual Fire Insurance Company and State of Vermont Offices all providing employment opportunities to locals.
Montpelier has an unemployment rate of 2.8%. The US average is 6.0%.
Montpelier has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Montpelier
- The Sales Tax Rate for Montpelier is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Montpelier is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Montpelier
- The average income of a Montpelier resident is $32,108 a year. The US average is $28,555 a year.
- The Median household income of a Montpelier resident is $71,163 a year. The US average is $69,021 a year.