Vado, NM is an affordable small town with a population of around 3,000 people. The average 2 bedroom rent in Vado is $900 per month, which is significantly cheaper than the national average of $1,430. Additionally, the Grocery Cost Index in Vado is 90 compared to the US average of 100; this makes it much more cost effective to purchase goods in Vado than anywhere else. Due to its affordability and convenient location near larger cities such as Las Cruces and El Paso, Vado has become an attractive place for many businesses to invest in and move into. Local businesses such as Acme Manufacturing and New Mexico Logistics have greatly benefited from this influx of new investment as it has enabled them to increase their production capacity and expand their customer base. These companies are key drivers of economic activity in Vado providing employment opportunities for residents and stimulating further investment into the region. Additionally, they provide valuable services that benefit the local community by contributing taxes that can be used for infrastructure projects or public services.
Vado has an unemployment rate of 8.0%. The US average is 6.0%.
Vado has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for Vado
- The Sales Tax Rate for Vado is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Vado is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Vado
- The average income of a Vado resident is $9,256 a year. The US average is $28,555 a year.
- The Median household income of a Vado resident is $44,792 a year. The US average is $69,021 a year.