Silverton, OR is a charming small town with a unique offering of attractions and amenities. It has a strong local economy which is supported by businesses such as The Silverton Pharmacy, Silver Creek Coffee Roasters, Silver Creek Distillery, and Bailey Farms. In addition to these businesses, it has some of the most affordable living costs in the region. The average two-bedroom rental price in Silverton is $1,270 compared to $1,430 across the US. Even grocery prices are more favorable; the Grocery Cost Index in Silverton is 101 versus 100 for the country overall. All these factors make it an ideal place to live for families or anyone looking to save money without compromising on quality of life.
Silverton has an unemployment rate of 6.2%. The US average is 6.0%.
Silverton has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 40.3%, which is higher than the US average of 33.5%.
Tax Rates for Silverton
- The Sales Tax Rate for Silverton is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Silverton is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Silverton
- The average income of a Silverton resident is $22,886 a year. The US average is $28,555 a year.
- The Median household income of a Silverton resident is $69,612 a year. The US average is $69,021 a year.