Wallace, LA is a small town situated in northern Louisiana. The cost of living in the area is low compared to the US. On average, two-bedroom rent in Wallace costs $900 per month while the US average for 2 bedroom rent is $1,430 per month. In addition, grocery cost index in Wallace stands at 96 when compared to 100 in the US. As a result, people who are looking for affordable living opportunities should seriously consider moving to Wallace.
The local economy of Wallace comprises of small businesses like Green Acres Nursery LLC, C&H Enterprises Inc., JAMO Electric Inc., and CHS Tire & Automotive Services LLC that offer services such as landscaping, general construction & maintenance services, electrical works and car repair respectively. All these businesses not only provide employment opportunities to locals but also ensure that the economic condition of the town remains strong.
In comparison to other parts of the country, Wallace offers great value for money as far as real estate and groceries are concerned. Therefore, residents can enjoy a good living without breaking their bank accounts.
Wallace has an unemployment rate of 10.1%. The US average is 6.0%.
Wallace has seen the job market decrease by -7.4% over the last year. Future job growth over the next ten years is predicted to be 22.9%, which is lower than the US average of 33.5%.
Tax Rates for Wallace
- The Sales Tax Rate for Wallace is 10.3%. The US average is 7.3%.
- The Income Tax Rate for Wallace is 6.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Wallace
- The average income of a Wallace resident is $21,600 a year. The US average is $37,638 a year.
- The Median household income of a Wallace resident is $63,454 a year. The US average is $69,021 a year.