Welby, Colorado is a great place to live for many reasons. It has an average two-bedroom rent of $1,760, which is slightly higher than the US average of $1,430. Similarly, its grocery cost index is 99 out of 100 compared to the US. This demonstrates that Welby can provide a good quality of living for anyone looking to settle down in this area. The local economy in Welby is driven by several large businesses. These include ABC Mining Company which provides employment opportunities to hundreds of people from the region and is one of the largest contributors to the GDP. Additionally, there are many small family-owned businesses such as Smiths General Store and Jones Grocery Market that help support both residents and tourists alike. All in all, Welby’s economy shows great promise with its low unemployment rate and access to quality services at an affordable cost.
Welby has an unemployment rate of 7.4%. The US average is 6.0%.
Welby has seen the job market increase by 2.8% over the last year. Future job growth over the next ten years is predicted to be 44.9%, which is higher than the US average of 33.5%.
Tax Rates for Welby
- The Sales Tax Rate for Welby is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Welby is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Welby
- The average income of a Welby resident is $18,476 a year. The US average is $28,555 a year.
- The Median household income of a Welby resident is $68,575 a year. The US average is $69,021 a year.