Medford, WI is a small city located in Taylor County that has a population of 4,200 people. It is known for its strong local economy, with businesses such as Medford Technologies Inc., C&M Machine Corporation and The Lumberyard Bar & Grill located in the city. The cost of living is lower than the national average, especially when it comes to rent expenses. The median two-bedroom rent price in Medford is only $840 per month compared to the national average of $1,430 per month - this is about 41% lower than the US average. This makes it an attractive location for people who are looking for an affordable place to live and work.
Medford has an unemployment rate of 4.9%. The US average is 6.0%.
Medford has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 40.8%, which is higher than the US average of 33.5%.
Tax Rates for Medford
- The Sales Tax Rate for Medford is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Medford is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Medford
- The average income of a Medford resident is $23,108 a year. The US average is $28,555 a year.
- The Median household income of a Medford resident is $47,835 a year. The US average is $69,021 a year.