Canton, TX is a small city in East Texas with an estimated population of 3,842. It offers many amenities including an abundance of local businesses. Major employers include Walmart Distribution Center, Walgreens Distribution Center, and Hatch Insurance Agency. The cost of living in Canton is relatively low; rent for a two bedroom apartment averages around $920 per month compared to the US average of $1,430, and the Grocery Cost Index is 96 compared to the US index of 100. Despite its small size, Canton has a lot to offer residents in terms of convenience and affordability.
Canton has an unemployment rate of 6.1%. The US average is 6.0%.
Canton has seen the job market increase by 2.7% 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 Canton
- The Sales Tax Rate for Canton is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Canton 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 Canton
- The average income of a Canton resident is $23,932 a year. The US average is $28,555 a year.
- The Median household income of a Canton resident is $50,846 a year. The US average is $69,021 a year.