Coalfield, TN is a small town known for its peaceful atmosphere and friendly residents. The average rent for a two-bedroom apartment in the area is $920, which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Coalfield is 94 versus 100 in the US, making groceries more affordable for residents. \nThe small city of Coalfield has many local businesses that contribute to its economy including banks, cafes, restaurants, convenience stores and more. Potter’s Trucking Corporation and Richardson Construction are two of the largest companies located in Coalfield. Additionally, there are several small businesses such as clothing stores, jewelry boutiques and gift shops that help bring life to this community.
Coalfield has an unemployment rate of 5.8%. The US average is 6.0%.
Coalfield has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 34.9%, which is higher than the US average of 33.5%.
Tax Rates for Coalfield
- The Sales Tax Rate for Coalfield is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Coalfield is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Coalfield
- The average income of a Coalfield resident is $23,569 a year. The US average is $37,638 a year.
- The Median household income of a Coalfield resident is $48,837 a year. The US average is $69,021 a year.