Three Way, TN is a small town located in western Tennessee with a population of just over 1,000 people. The local economy relies heavily on agriculture and timber production, as well as some tourism from nearby cities. Residents of Three Way benefit from an affordable cost of living, with two-bedroom rents costing around $800 per month compared to the US average of $1,430. Grocery costs in Three Way are also lower than the national average with an index score of 92 versus 100 nationwide. Local businesses include Three Way Timber Company, Three Way Farmers Co-op, and Three Way Country Store. These companies provide goods and services that are essential to the town's economy and contribute to its overall affordability.
Three Way has an unemployment rate of 5.1%. The US average is 6.0%.
Three Way has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 40.4%, which is higher than the US average of 33.5%.
Tax Rates for Three Way
- The Sales Tax Rate for Three Way is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Three Way 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 Three Way
- The average income of a Three Way resident is $32,068 a year. The US average is $28,555 a year.
- The Median household income of a Three Way resident is $74,483 a year. The US average is $69,021 a year.