Falmouth, VA is a small town located just south of Fredericksburg. It's a popular destination for those looking to relax and enjoy the natural beauty of Northern Virginia. The rental market in Falmouth is affordable with 2 bedroom apartments going for $1,460 on average—just slightly higher than the national average of $1,430. The cost of groceries here is fairly high however, with a Grocery Cost Index score of 107 versus 100 in the US.
Falmouth has many local businesses that make the town unique and vibrant, including Turner’s Florist & Gifts, Generations Hair Studio, and On-Time Auto Repair. The town also boasts two parks with walking trails and picnic areas—Falls Run Park and Salem Church Park—perfect for family outings or peaceful solo walks. With its affordable housing options and small town charm, Falmouth is an ideal place to call home.
Falmouth has an unemployment rate of 4.8%. The US average is 6.0%.
Falmouth has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 40.3%, which is higher than the US average of 33.5%.
Tax Rates for Falmouth
- The Sales Tax Rate for Falmouth is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Falmouth is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Falmouth
- The average income of a Falmouth resident is $33,222 a year. The US average is $28,555 a year.
- The Median household income of a Falmouth resident is $111,250 a year. The US average is $69,021 a year.