McKenzie, TN is a small town located in the state of Tennessee. It has a population of about 10,000 people and boasts some of the most affordable living costs in the United States. Rent for a two-bedroom apartment averages $740 per month, which is significantly lower than the US national average of $1,430. Grocery costs are also lower than most other areas in the country at 92 on the Grocery Cost Index compared to 100 nationally. Many local companies call McKenzie home including McKenzie Farms, an organic vegetable farm, and Nashville Creamery which offers delicious locally crafted ice cream from local dairy farmers. The low cost of living in McKenzie makes it an attractive destination for young businesses and entrepreneurs due to its affordability while still being close to larger city amenities. This draws more people into the area and strengthens both the local economy and job markets.
McKenzie has an unemployment rate of 5.7%. The US average is 6.0%.
McKenzie has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 27.0%, which is lower than the US average of 33.5%.
Tax Rates for McKenzie
- The Sales Tax Rate for McKenzie is 9.8%. The US average is 7.3%.
- The Income Tax Rate for McKenzie 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 McKenzie
- The average income of a McKenzie resident is $17,519 a year. The US average is $28,555 a year.
- The Median household income of a McKenzie resident is $44,392 a year. The US average is $69,021 a year.