Cornwall, VT is a small town located in Addison County with a population of about 1,200. It is an idyllic rural community with historic buildings and quaint shops. The cost of living in Cornwall is slightly higher than the national average due to its proximity to ski resorts and lakeside attractions. Local companies such as Bear Meadows Farm, Lake Champlain Chocolates, and Vermont Maple Outlet offer a variety of products that attract visitors from all over the world. The two bedroom rent price for Cornwall is $1,220 compared to the US average of $1,430. Similarly, the grocery cost index for Cornwall is 109 which is higher than the US average of 100. The higher prices can be attributed to the limited availability of goods and services due to its smaller population size and regional location.
Cornwall has an unemployment rate of 1.4%. The US average is 6.0%.
Cornwall has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Cornwall
- The Sales Tax Rate for Cornwall is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cornwall is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cornwall
- The average income of a Cornwall resident is $40,671 a year. The US average is $28,555 a year.
- The Median household income of a Cornwall resident is $90,417 a year. The US average is $69,021 a year.