Rainbow City, AL is a great place to live and work. The city offers affordable living with an average two-bedroom rent of $900, compared to the U.S. average of $1,430. Grocery costs are also very reasonable with an index of 96 compared to 100 in the US. Employment options abound as many local companies have chosen Rainbow City as their home. These include businesses such as T & C Electric, Nature's Way Market, Little Dreamers Day Care Center, and Bowen Auto Repair. There is something for everyone in Rainbow City, making it a great place to call home!
Rainbow City has an unemployment rate of 4.0%. The US average is 6.0%.
Rainbow City has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 30.9%, which is lower than the US average of 33.5%.
Tax Rates for Rainbow City
- The Sales Tax Rate for Rainbow City is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Rainbow City 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 Rainbow City
- The average income of a Rainbow City resident is $22,967 a year. The US average is $28,555 a year.
- The Median household income of a Rainbow City resident is $51,765 a year. The US average is $69,021 a year.