Malvern, AL is a small city located in west central Alabama. It is home to plenty of local businesses such as Malvern Hardware & Supply, Wakefield Automotive Services, and Harding's Pharmacy. The city has a low cost of living compared to the US average. For example, while the US median 2 bedroom rent rate is $1,430 per month, rent in Malvern is only $770 per month. Additionally, the Grocery Cost Index in Malvern is 94 compared to 100 in the US. This means groceries are 6% cheaper here than anywhere else in the country!
Malvern has an unemployment rate of 2.5%. The US average is 6.0%.
Malvern has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Malvern
- The Sales Tax Rate for Malvern is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Malvern 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 Malvern
- The average income of a Malvern resident is $22,260 a year. The US average is $28,555 a year.
- The Median household income of a Malvern resident is $45,167 a year. The US average is $69,021 a year.