Lipscomb, TX is a small town in Northern Texas that offers an affordable cost of living for its residents. One of the most attractive features of the city is the low rent costs for two bedroom apartments; with an average rent of $880 compared to the US average of $1,430. The grocery cost index in Lipscomb is also significantly lower than the US average at 91 versus 100. There are several local companies operating in Lipscomb such as Sunrise Oil Field Supply, Beacon Industries and American Legion Post 454 who provide employment opportunities for locals. With its low rent costs, reasonable grocery prices and available jobs living in Lipscomb can be very affordable.
Lipscomb has an unemployment rate of 4.8%. The US average is 6.0%.
Lipscomb has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 20.2%, which is lower than the US average of 33.5%.
Tax Rates for Lipscomb
- The Sales Tax Rate for Lipscomb is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Lipscomb 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 Lipscomb
- The average income of a Lipscomb resident is $29,641 a year. The US average is $28,555 a year.
- The Median household income of a Lipscomb resident is $58,750 a year. The US average is $69,021 a year.