Cherry Tree, OK is an attractive place to call home due to its affordability and friendly small-town atmosphere. The rent for a two bedroom apartment is much lower than the US average at only $820 compared to $1,430. The grocery cost index is also significantly lower in Cherry Tree, with a score of 92 compared to the US average of 100; this makes it cheaper for individuals and families alike to get their groceries. There are many local businesses in Cherry Tree that serve residents' needs such as The Town Market and Main Street Cafe & Bakery. Overall, living in Cherry Tree, OK can be much more affordable than living in other parts of the United States while providing quality amenities and services for locals.
Cherry Tree has an unemployment rate of 3.7%. The US average is 6.0%.
Cherry Tree has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 29.2%, which is lower than the US average of 33.5%.
Tax Rates for Cherry Tree
- The Sales Tax Rate for Cherry Tree is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Cherry Tree 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 Cherry Tree
- The average income of a Cherry Tree resident is $12,588 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Tree resident is $40,833 a year. The US average is $69,021 a year.