Olive Branch, IL is a small town located in the southern part of Illinois. It has a cozy atmosphere and is home to many charming businesses, such as Olive Branch Bakery, Walmart Supercenter, and Olive Branch Pharmacy. The cost of living in this rural area is relatively inexpensive. According to statistics from 2019, 2 Bedroom Rent was $820 in Olive Branch compared to $1,430 nationally. Additionally, the Grocery Cost Index score for the town was 91 versus 100 in the US. All of this makes it an ideal place for those looking for an affordable place to live.
Olive Branch has an unemployment rate of 8.3%. The US average is 6.0%.
Olive Branch has seen the job market increase by 3.2% over the last year. Future job growth over the next ten years is predicted to be 16.5%, which is lower than the US average of 33.5%.
Tax Rates for Olive Branch
- The Sales Tax Rate for Olive Branch is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Olive Branch 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 Olive Branch
- The average income of a Olive Branch resident is $14,692 a year. The US average is $28,555 a year.
- The Median household income of a Olive Branch resident is $48,250 a year. The US average is $69,021 a year.