Timberlake, VA is an attractive area for those looking for a place to live that has a relatively low cost of living. The two bedroom rent in Timberlake is $1,090 compared to the US average of $1,430 and its Grocery Cost Index is 98 versus 100 in the US. This makes it an affordable place to live and work. Those considering a move to Timberlake will find that there are several local businesses such as Blue Ridge Automotive and Marjorie's Beauty Salon that provide goods and services to the community. For entertainment, Timberlake offers First Friday activities each month at The Gallery at Market Square where visitors can enjoy free live music, arts and crafts vendors, food trucks, beer and wine tastings.
Timberlake has an unemployment rate of 5.0%. The US average is 6.0%.
Timberlake has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 29.7%, which is lower than the US average of 33.5%.
Tax Rates for Timberlake
- The Sales Tax Rate for Timberlake is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Timberlake 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 Timberlake
- The average income of a Timberlake resident is $22,832 a year. The US average is $28,555 a year.
- The Median household income of a Timberlake resident is $62,715 a year. The US average is $69,021 a year.