Elkmont, AL is a small town located in northern Alabama with a population of roughly 1,000 people. The town features many quaint local shops and restaurants that offer affordable prices on goods and services. The cost of living in Elkmont is quite affordable as well; 2 bedroom rent is currently $980 compared to $1,430 for the United States overall. Additionally, the grocery cost index in Elkmont is 95 versus 100 in the US. This makes it an attractive option for those looking to save money or live a simpler life surrounded by nature's beauty. Popular businesses in Elkmont include Smith's Grocery Store, a family-owned operation that has been around since the 1940s, and Elkmont Cafe which serves excellent breakfast dishes seven days per week. Overall, Elkmont is great choice for those looking to escape from more costly areas while still having access to necessary amenities like shopping and dining establishments.
Elkmont has an unemployment rate of 2.1%. The US average is 6.0%.
Elkmont has seen the job market increase by 3.5% over the last year. Future job growth over the next ten years is predicted to be 41.1%, which is higher than the US average of 33.5%.
Tax Rates for Elkmont
- The Sales Tax Rate for Elkmont is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Elkmont 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 Elkmont
- The average income of a Elkmont resident is $23,231 a year. The US average is $28,555 a year.
- The Median household income of a Elkmont resident is $41,429 a year. The US average is $69,021 a year.