Belmont, Mississippi is a small city with a population of approximately 1,500 people. Despite its size, the city boasts an array of businesses and amenities to satisfy the needs of its citizens. Popular local companies include Belmont Family Pharmacy, J & L Supermarket, and Brown's Grill. The cost of living in Belmont is considerably less expensive than that of larger cities; for instance, the average rent for a two-bedroom apartment is only $740 compared to $1430 in the US as a whole. Additionally, the Grocery Cost Index in Belmont is 93 versus 100 in the US. In this way, residents of Belmont enjoy lower costs without sacrificing quality or convenience.
Belmont has an unemployment rate of 5.1%. The US average is 6.0%.
Belmont 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 36.0%, which is higher than the US average of 33.5%.
Tax Rates for Belmont
- The Sales Tax Rate for Belmont is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Belmont 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 Belmont
- The average income of a Belmont resident is $16,027 a year. The US average is $28,555 a year.
- The Median household income of a Belmont resident is $36,292 a year. The US average is $69,021 a year.