Kermit, Texas is a quaint town located halfway between Midland and Odessa. It is home to many small businesses and local companies. Some of these businesses include The Kermit Chamber of Commerce, South Plains Oilfield Services, and the Winkler County Library System. Despite being a small town, Kermit offers its residents affordable housing with the average two-bedroom rent coming in at $930 per month compared to the national average of $1,430. Additionally, the Grocery Cost Index in Kermit is 89 versus 100 in the US making groceries more affordable than other cities. All these factors make Kermit an attractive place to live for those looking for access to amenities while maintaining a reasonable cost of living.
Kermit has an unemployment rate of 9.2%. The US average is 6.0%.
Kermit has seen the job market increase by 13.5% over the last year. Future job growth over the next ten years is predicted to be 63.2%, which is higher than the US average of 33.5%.
Tax Rates for Kermit
- The Sales Tax Rate for Kermit is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Kermit 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 Kermit
- The average income of a Kermit resident is $22,437 a year. The US average is $28,555 a year.
- The Median household income of a Kermit resident is $63,871 a year. The US average is $69,021 a year.