Alamance, NC is a great place to live and work with its moderate cost of living and accessible amenities. The average two bedroom rent in Alamance is around $1,100 which is much lower than the US average of $1,430. Additionally, grocery cost index in Alamance stands at 96 versus 100 in the US. Being an affordable and accessible city also makes Alamance a very attractive destination for students to attend college. Local universities like Elon University and North Carolina Agricultural & Technical State University are renowned institutions that attract many students from all over the world each year. Companies like LabCorp, Volvo Trucks, and Cone Health all have large operations based in Alamance that provide great job opportunities for locals as well as people from outside the city.
Alamance has an unemployment rate of 4.5%. The US average is 6.0%.
Alamance has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Alamance
- The Sales Tax Rate for Alamance is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Alamance is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Alamance
- The average income of a Alamance resident is $40,541 a year. The US average is $28,555 a year.
- The Median household income of a Alamance resident is $87,788 a year. The US average is $69,021 a year.