Providence, AL is a small town located in the southeastern corner of the state. It is home to many locally owned businesses that cater to the needs of its citizens. Examples include a grocery store, hardware store, auto repair shop, restaurant and several other small businesses. The town has seen an influx of new residents due to its low cost of living. The average 2 Bedroom rent in Providence is $750 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Providence is 94 versus 100 in the US which makes it more affordable for residents. Due to its close proximity to larger cities such as Birmingham and Mobile, Providence has become a popular destination for those looking for a slower pace of life and a lower cost of living.
Providence has an unemployment rate of 4.3%. The US average is 6.0%.
Providence has seen the job market decrease by -1.7% over the last year. Future job growth over the next ten years is predicted to be 31.2%, which is lower than the US average of 33.5%.
Tax Rates for Providence
- The Sales Tax Rate for Providence is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Providence 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 Providence
- The average income of a Providence resident is $37,381 a year. The US average is $37,638 a year.
- The Median household income of a Providence resident is $49,583 a year. The US average is $69,021 a year.