Colony, AL is an affordable place to live that offers a respite from the hustle and bustle of larger cities. With an average two-bedroom rent at $830 compared to the US average of $1430, Colony is an ideal place for people looking to save money while still enjoying a comfortable life. The Grocery Cost Index in Colony is 93, making everyday groceries even more affordable for its residents.
The city boasts a variety of local businesses such as Cottonwood Ridge Farms, Butler's Home Furnishing & Appliances, and McDaniel's BBQ, that have been providing quality services to their community for many years. In addition to these businesses, there are also plenty of shops and restaurants that make up the vibrant culture of Colony.
Colony has an unemployment rate of 2.0%. The US average is 6.0%.
Colony 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 37.8%, which is higher than the US average of 33.5%.
Tax Rates for Colony
- The Sales Tax Rate for Colony is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Colony is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Colony
- The average income of a Colony resident is $16,895 a year. The US average is $28,555 a year.
- The Median household income of a Colony resident is $41,875 a year. The US average is $69,021 a year.