Canal Point, FL is a small town located in Palm Beach County with a population of just over 1,000 people according to the 2019 census. Compared to the national average, 2 Bedroom apartment rents are much lower in Canal Point at $1,010 compared to $1,430 for the entire USA. The Grocery Cost Index is also slightly lower than the US average at 100 versus 100 as well. Local companies in Canal Point include Pahokee Marina & Campground and U-Pick Farms which provide locals with access to outdoor recreation and fresh produce. Due to its small size and low cost of living, Canal Point is popular among retirees looking for affordable housing and access to nature while still having some small businesses nearby.
Canal Point has an unemployment rate of 4.7%. The US average is 6.0%.
Canal Point has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 39.6%, which is higher than the US average of 33.5%.
Tax Rates for Canal Point
- The Sales Tax Rate for Canal Point is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Canal Point is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Canal Point
- The average income of a Canal Point resident is $11,859 a year. The US average is $28,555 a year.
- The Median household income of a Canal Point resident is $96,375 a year. The US average is $69,021 a year.