Fairmount, TN is an idyllic small town located in Tennessee with a population of roughly 2,000. It offers its residents reasonable housing costs and grocery costs that are slightly lower than the US average. The 2 bedroom rent in Fairmount is $1,360 while the US 2 bedroom rent is $1,430. Additionally, Fairmount has a Grocery Cost Index of 104 versus 100 in the US.
Fairmount is home to several prominent businesses such as Formtek Tennessee LLC which provides metal forming solutions to customers across North America. Other businesses include Nu-Tec Tool & Mfg., Inc., Creekside Industries Inc., and Armcorp Corp which manufactures parts for automotive vehicles and light trucks.
In addition to its many businesses, Fairmount also boasts several notable attractions including Rhea Lake Recreation Area located on Watts Bar Lake which has a variety of outdoor activities such as fishing, canoeing, hiking, and camping. The Cumberland Trail State Park is also nearby offering hikers stunning views of the forested ridge tops and bottomlands along with wildlife viewing opportunities. Other popular attractions are the Grand Oaks Golf Course and Nickajack Lake which offer visitors a chance to play golf or take a leisurely boat ride out on the lake's calm waters.
Fairmount has an unemployment rate of 4.8%. The US average is 6.0%.
Fairmount has seen the job market increase by 2.8% over the last year. Future job growth over the next ten years is predicted to be 46.0%, which is higher than the US average of 33.5%.
Tax Rates for Fairmount
- The Sales Tax Rate for Fairmount is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Fairmount 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 Fairmount
- The average income of a Fairmount resident is $39,754 a year. The US average is $28,555 a year.
- The Median household income of a Fairmount resident is $96,413 a year. The US average is $69,021 a year.