Morristown,TN is a city located in the northeast corner of Tennessee. It has a population of roughly 30,000 people. The cost of living is lower than that of the US as a whole, with rental costs for two bedrooms averaging $850 compared to $1,430 nationally. Additionally, grocery costs are about 5% lower than those across the US at an index score of 95 instead of 100.
The area is known for its variety of local businesses including Morristown Honda dealerships, McAlister's Deli and Tri-Cities Airport Authority. Companies like Eastman Chemical Company and Bush Brothers & Company are also headquartered near Morristown.
To summarize, the cost of living in Morristown, TN is considerably lower than that of the US and it is home to many local businesses. Residents enjoy more affordable rent prices as well as groceries when compared to other parts of the country.
Morristown has an unemployment rate of 5.6%. The US average is 6.0%.
Morristown has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 38.8%, which is higher than the US average of 33.5%.
Tax Rates for Morristown
- The Sales Tax Rate for Morristown is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Morristown 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 Morristown
- The average income of a Morristown resident is $17,879 a year. The US average is $28,555 a year.
- The Median household income of a Morristown resident is $36,495 a year. The US average is $69,021 a year.