Redwood, TX is a small city located in the state of Texas. It is known for its affordable housing market, with two bedroom rents averaging at $1,280 which is much lower than the US average of $1,430. Additionally, living costs such as groceries are much lower compared to the national average due to its Grocery Cost Index of 92 instead of 100. There are many local businesses and attractions that make Redwood an ideal place to live or visit. Some notable sites include The Cactus Cafe & Barbecue which serves up some of the best BBQ in town and Lakeview Park which offers visitors stunning views and a peaceful environment for picnics and outdoor activities. Redwood is also home to a variety of small businesses ranging from apparel shops to food stands that make it a great place to support local businesses while shopping or eating out.
Redwood has an unemployment rate of 5.6%. The US average is 6.0%.
Redwood has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 41.7%, which is higher than the US average of 33.5%.
Tax Rates for Redwood
- The Sales Tax Rate for Redwood is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Redwood 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 Redwood
- The average income of a Redwood resident is $13,139 a year. The US average is $28,555 a year.
- The Median household income of a Redwood resident is $53,047 a year. The US average is $69,021 a year.