Petrey, AL is a small town located in southern Alabama that offers a quiet and relaxed atmosphere for its residents. The median rent for a two bedroom rental in Petrey is $730, which is significantly lower than the national average of $1430. This makes the area more financially accessible to families and those looking to make a home in this rural area. Petrey also has an appealing Grocery Cost Index at 92 (compared to the US index of 100) which means groceries are less expensive than many other areas of the United States.
Petrey’s economy is based largely on agriculture with local companies such as Petrey Family Farms providing fresh produce to local markets. Other businesses in Petrey include Kerri Oil Company, Dixon Lumber & Building Supply, and Dixie Auto Parts. Due to its lower cost of living combined with access to nearby cities such as Troy and Montgomery, people have been flocking into Petrey in recent years creating further demand for housing options and businesses alike.
Petrey has an unemployment rate of 3.0%. The US average is 6.0%.
Petrey has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 27.8%, which is lower than the US average of 33.5%.
Tax Rates for Petrey
- The Sales Tax Rate for Petrey is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Petrey 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 Petrey
- The average income of a Petrey resident is $21,417 a year. The US average is $28,555 a year.
- The Median household income of a Petrey resident is $59,583 a year. The US average is $69,021 a year.