Norton, VA is a small city that offers residents an affordable cost of living. The average 2 bedroom rent in Norton is $850 per month, which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Norton stands at 93 compared to 100 in the US, making it an ideal location for value-seeking households. Residents have access to major local employers such as National Coal Corporation and Mountain Empire Regional Library System. Additionally, there are numerous small businesses located downtown such as Summit Accounting Solutions and Finney Bike Shop. With its low cost of living and access to local employers, Norton is an attractive option for both individuals and families looking for a place to call home.
Norton has an unemployment rate of 6.4%. The US average is 6.0%.
Norton has seen the job market decrease by -1.1% over the last year. Future job growth over the next ten years is predicted to be 12.4%, which is lower than the US average of 33.5%.
Tax Rates for Norton
- The Sales Tax Rate for Norton is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Norton 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 Norton
- The average income of a Norton resident is $22,715 a year. The US average is $28,555 a year.
- The Median household income of a Norton resident is $35,592 a year. The US average is $69,021 a year.