Merrimac, VA is a great place to call home. With an average two bedroom rent of $1,120 per month it is much more affordable than the national average of $1,430. Additionally, the cost of living in Merrimac is slightly lower than the US average as indicated by the Grocery Cost Index score of 103 versus 100 for the US overall. Local businesses include Framers Market, H&R Block Tax Service, Hilltop Market and Bakery Cafe, and Va Beach Mortgage & Investment Co. Merrimac offers plenty for its residents at an affordable rate making it easy to live comfortably without breaking the bank.
Merrimac has an unemployment rate of 3.9%. The US average is 6.0%.
Merrimac has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 29.4%, which is lower than the US average of 33.5%.
Tax Rates for Merrimac
- The Sales Tax Rate for Merrimac is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Merrimac 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 Merrimac
- The average income of a Merrimac resident is $25,518 a year. The US average is $28,555 a year.
- The Median household income of a Merrimac resident is $55,139 a year. The US average is $69,021 a year.