Economy in Cape Canaveral, Florida

Cape Canaveral, FL is situated on Florida's Space Coast and is a popular tourist destination. This vibrant city offers a wide range of entertainment options, including beaches, fishing, golfing, and festivals. The average two-bedroom rental rate in Cape Canaveral is $1,110 per month compared to the US average of $1,430, making it an affordable place for individuals and families to settle. Additionally, the cost of groceries in Cape Canaveral is 101 compared to 100 in the US, mirroring the reasonable cost of living. Several major companies are based in Cape Canaveral such as Harris Corporation and Northrop Grumman Aerospace Systems. In addition to excellent food options and plenty of things to do, locals have access to great schools and reputable healthcare providers. All in all, Cape Canaveral has much to offer both residents and visitors alike.

Cape Canaveral has an unemployment rate of 4.5%. The US average is 6.0%.

Cape Canaveral has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 42.2%, which is higher than the US average of 33.5%.

Tax Rates for Cape Canaveral
- The Sales Tax Rate for Cape Canaveral is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cape Canaveral 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 Cape Canaveral
- The average income of a Cape Canaveral resident is $37,064 a year. The US average is $28,555 a year.
- The Median household income of a Cape Canaveral resident is $58,396 a year. The US average is $69,021 a year.