North El Monte, CA is a small suburb of Los Angeles located in the San Gabriel Valley. The city has a population of 11,500 people and is known for its wealth of local businesses, including restaurants, retail stores, and more. It's also home to several large companies, such as Coca-Cola bottling company and Sysco Foods. These companies employ many of the local residents and provide an overall boost to the economy. As a result, North El Monte has a higher cost of living than other areas due to the increased demand for goods and services in this area. The two bedroom rent in North El Monte is $2,540 compared to $1,430 nationally. Additionally, grocery costs are also higher with an index rating of 107 compared to 100 in the US. All these factors contribute to why North El Monte has a higher cost of living than other cities.
North El Monte has an unemployment rate of 10.9%. The US average is 6.0%.
North El Monte has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.
Tax Rates for North El Monte
- The Sales Tax Rate for North El Monte is 9.5%. The US average is 7.3%.
- The Income Tax Rate for North El Monte is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for North El Monte
- The average income of a North El Monte resident is $28,164 a year. The US average is $28,555 a year.
- The Median household income of a North El Monte resident is $88,795 a year. The US average is $69,021 a year.