Tipton, Oklahoma is a small town located in Cotton County. It is a rural farming community with a population of around 607 people. Affordability is one of the main appeals of Tipton, as the median 2-bedroom rent is only $780 per month compared to the U.S. median price of $1,430 per month. Groceries are also more affordable with a grocery cost index of 88 versus 100 in the US. The town has numerous local businesses such as H & H Automotive, Frontier Country Store and Cowan's Furniture Factory Outlet that provide employment opportunities for residents. Other popular attractions include the Tipton Rodeo and Fairgrounds and the Winter Creek Golf Course.
Tipton has an unemployment rate of 4.0%. The US average is 6.0%.
Tipton has seen the job market decrease by -2.6% over the last year. Future job growth over the next ten years is predicted to be 13.4%, which is lower than the US average of 33.5%.
Tax Rates for Tipton
- The Sales Tax Rate for Tipton is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Tipton 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 Tipton
- The average income of a Tipton resident is $20,904 a year. The US average is $28,555 a year.
- The Median household income of a Tipton resident is $35,000 a year. The US average is $69,021 a year.