The Colony, TX is a vibrant city that offers many opportunities for both work and leisure. Located just north of Dallas, the city is home to several large corporations such as Pizza Hut and Toyota Logistics Services. It also boasts a highly educated workforce with 97% of residents having graduated from high school or college. As far as cost of living goes, The Colony is slightly more expensive than the US national average when it comes to rent and groceries, with two bedroom rental prices averaging $1,830 and grocery cost index being 101 versus 100 in the US. Despite the slightly higher costs of living, The Colony remains an attractive destination due to its culture, excellent education system and job opportunities.
The Colony has an unemployment rate of 5.8%. The US average is 6.0%.
The Colony has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 45.6%, which is higher than the US average of 33.5%.
Tax Rates for The Colony
- The Sales Tax Rate for The Colony is 8.3%. The US average is 7.3%.
- The Income Tax Rate for The Colony 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 The Colony
- The average income of a The Colony resident is $33,165 a year. The US average is $28,555 a year.
- The Median household income of a The Colony resident is $96,901 a year. The US average is $69,021 a year.