Living in Honaker, VA is a great choice for people looking for a more affordable lifestyle. Renting a 2 bedroom here is nearly half the cost of renting in the US, at just $730 per month. Furthermore, the Grocery Cost Index in Honaker is 93 versus 100 in the US, so it's clear that living expenses are much lower compared to the national average.
Aside from its affordability, Honaker has plenty to offer. The town is home to several local businesses such as Tazewell Supply Company and W-K Chevrolet Buick GMC. There are also plenty of outdoor activities available with access to nearby Appalachian Trail trails and George Washington & Jefferson National Forest. The town also has many quaint restaurants and shops that create a unique atmosphere for everyone to enjoy. All these factors make Honaker an ideal place for residents looking for an affordable yet culturally rich lifestyle.
Honaker has an unemployment rate of 5.8%. The US average is 6.0%.
Honaker has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Honaker
- The Sales Tax Rate for Honaker is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Honaker 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 Honaker
- The average income of a Honaker resident is $15,276 a year. The US average is $28,555 a year.
- The Median household income of a Honaker resident is $30,313 a year. The US average is $69,021 a year.