Penney Farms, FL is a small town located in Duval County with an estimated population of 762. The cost of living in Penney Farms is overall very affordable compared to the national average, with 2 Bedroom Rent being $1,560 in Penney Farms versus $1,430 in the United States. Groceries are also cheaper than average with a Grocery Cost Index of 99 compared to 100 nationally. There are several local businesses that contribute to the economy of this quaint town such as Watson's Flea Market, Black Creek Outfitters and B & D Horse Tack Warehouse. All these factors make Penney Farms an attractive destination for those looking for a peaceful small-town life but also wanting to enjoy the benefits of modern amenities.
Penney Farms has an unemployment rate of 4.0%. The US average is 6.0%.
Penney Farms has seen the job market decrease by -3.9% over the last year. Future job growth over the next ten years is predicted to be 46.1%, which is higher than the US average of 33.5%.
Tax Rates for Penney Farms
- The Sales Tax Rate for Penney Farms is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Penney Farms is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Penney Farms
- The average income of a Penney Farms resident is $29,585 a year. The US average is $37,638 a year.
- The Median household income of a Penney Farms resident is $58,188 a year. The US average is $69,021 a year.