Silverhill, AL Economy


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Silverhill, AL is a small town located in Baldwin County. It is an area that offers a great quality of life with affordable housing. The average two bedroom rent in Silverhill is $1,030 which is significantly lower than the US average of $1,430. In addition to affordable housing, the cost of groceries are relatively low as well compared to other areas with an index of 97 versus 100 in the US.
Residents of Silverhill have access to a variety of businesses and services including grocery stores such as Piggly Wiggly and Winn Dixie, banks like United Bank and Southern Exchange Bank and Trust, local restaurants like Hot Spot BBQ & Grill and Pecan House Cafe & Bakery, medical facilities such as Thomas Hospital Emergency Department and several pharmacies. Additionally there are several gas stations, salons, pet stores, auto repair shops and more all located within the city limits.

Silverhill has an unemployment rate of 2.9%. The US average is 6.0%.

Silverhill has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 43.8%, which is higher than the US average of 33.5%.

Tax Rates for Silverhill
- The Sales Tax Rate for Silverhill is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Silverhill 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 Silverhill
- The average income of a Silverhill resident is $46,638 a year. The US average is $37,638 a year.
- The Median household income of a Silverhill resident is $49,375 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomySilverhill, AlabamaUnited States
  2.96
  -3.6%-6.2%
  43.8%33.5%
  8.0%6.2%
  5.0%4.6%
  $46,638$37,638
  $49,375$69,021
  $71,875$85,028
  Population by Occupation
  0.0%1.2%
  0.0%0.5%
  5.6%6.8%
  9.4%10.0%
  0.3%2.5%
  20.6%11.0%
  3.5%4.8%
  2.9%0.8%
  1.1%1.9%
  0.0%4.7%
  2.9%1.9%
  4.0%7.6%
  0.0%0.1%
  0.5%4.2%
  19.0%9.3%
  16.1%14.0%
  0.0%2.1%
  2.7%7.0%
  7.8%4.8%
  3.5%4.7%
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