Newberry, SC Metro Area is known for its low cost of living. The average rent for a two-bedroom apartment is $880, which is substantially less than the national average of $1,430. This makes Newberry an ideal spot for anyone looking to save on rental costs. Grocery costs are also relatively inexpensive in Newberry with a Grocery Cost Index sitting at 94 compared to the US average of 100. Local companies like Sunbelt Rentals have been providing services to the area since 2001 while also creating jobs and invigorating the local economy. Overall, Newberry is a great place to live that offers residents affordable housing and everyday costs.
Newberry Metro Area has an unemployment rate of 4.0%. The US average is 6.0%.
Newberry Metro Area has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 24.3%, which is lower than the US average of 33.5%.
Tax Rates for Newberry Metro Area
- The Sales Tax Rate for Newberry Metro Area is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Newberry Metro Area is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newberry Metro Area
- The average income of a Newberry Metro Area resident is $22,073 a year. The US average is $28,555 a year.
- The Median household income of a Newberry Metro Area resident is $50,950 a year. The US average is $69,021 a year.