New Hope, TN is a small rural town located in the south of the state. It's perfect for anyone looking for a slow-paced lifestyle and a low cost of living. The average two bedroom rent in New Hope is only $910, significantly lower than the US average which is $1,430. Additionally, grocery costs are also lower when compared to the national average as they have an index rating of 94 versus 100 in the US. \nNew Hope has several local businesses that contribute to its economy such as C&L Auto Repair, Smith’s Produce Market, and Brown's Grocery & Produce. All these companies offer quality services at competitive prices while helping to support the community.
New Hope has an unemployment rate of 5.5%. The US average is 6.0%.
New Hope 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 41.4%, which is higher than the US average of 33.5%.
Tax Rates for New Hope
- The Sales Tax Rate for New Hope is 9.8%. The US average is 7.3%.
- The Income Tax Rate for New Hope 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 New Hope
- The average income of a New Hope resident is $23,072 a year. The US average is $28,555 a year.
- The Median household income of a New Hope resident is $46,607 a year. The US average is $69,021 a year.