Munford, AL is a small town with a population of 1,239 people located in Talladega County. The cost of living in this town is quite affordable; 2 bedroom rent averages $730 per month compared to the US average of $1,430. Groceries are also relatively inexpensive with an index of 93 versus 100 in the US.
The local economy is driven by several companies including Munford Motorsports which supplies parts to different race teams, Nivens Country Store which provides products and services for farmers in the area and Burnt Oak Estates which provide housing and employment opportunities. These companies have had a great impact on the local economy, providing jobs and boosting Munford’s annual income.
Munford has an unemployment rate of 3.9%. The US average is 6.0%.
Munford has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Munford
- The Sales Tax Rate for Munford is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Munford 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 Munford
- The average income of a Munford resident is $18,445 a year. The US average is $28,555 a year.
- The Median household income of a Munford resident is $27,375 a year. The US average is $69,021 a year.