Putnam, AL is a small town in Alabama with a low cost of living. The average 2 bedroom rent is $740, which is significantly less than the US average 2 bedroom rent of $1,430. Additionally, the Grocery Cost Index in Putnam is 97 compared to the US index of 100. This indicates that groceries are slightly cheaper in Putnam than the national average. Notable local companies include Putnam Chrysler Dodge Jeep Ram Fiat, Colburn's Home Furnishings Inc., and Lamar & Son Heat & Air Inc. Compared to other nearby cities such as Butner and Houston, Putnam offers lower costs for rent and groceries.
Putnam has an unemployment rate of 4.3%. The US average is 6.0%.
Putnam 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 Putnam
- The Sales Tax Rate for Putnam is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Putnam 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 Putnam
- The average income of a Putnam resident is $54,371 a year. The US average is $37,638 a year.
- The Median household income of a Putnam resident is $0 a year. The US average is $69,021 a year.