Hanceville, Alabama, located in Cullman County, is a city filled with small-town charm. With a population of 3,096 people according to 2019 census estimates and a median home and rent cost that is considerably lower than the national average, Hanceville provides an affordable place to call home. The median cost of 2 Bedroom rent in Hanceville is $820 per month compared to the U.S. average of $1,430 per month. Grocery costs in Hanceville are also lower than the national average index at 93 versus 100 for the US.
Hanceville's economy is supported by local businesses such as Spool & Thread Quilt Co., Hanceville Hardware Co., and Country Boy Produce which provides fresh fruits and vegetables from local farms to households throughout North Alabama. There are several other small businesses that make up the local economy providing employment opportunities for people who want to live and work in the area.
Overall, living in Hanceville offers residents an affordable place to call home with a low cost of living compared to other cities across the country while still having access to local goods and services from its wonderful small businesses.
Hanceville (zip 35077) has an unemployment rate of 2.0%. The US average is 6.0%.
Hanceville (zip 35077) has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 37.8%, which is higher than the US average of 33.5%.
Tax Rates for Hanceville (zip 35077)
- The Sales Tax Rate for Hanceville (zip 35077) is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Hanceville (zip 35077) 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 Hanceville (zip 35077)
- The average income of a Hanceville (zip 35077) resident is $20,078 a year. The US average is $28,555 a year.
- The Median household income of a Hanceville (zip 35077) resident is $44,825 a year. The US average is $69,021 a year.