Russell, MA is a small town located in Hampden County with an estimated population of 1,914 people. It has a stable housing market despite the cost of two bedroom rent being slightly above the US average at $1,060 per month. The local economy is largely driven by small businesses. In addition to grocery stores, Russell is home to several cafes, restaurants, and service-based companies such as mechanics and auto shops. The cost of groceries in Russell is slightly higher than the US average at 106 versus 100 respectively. This indicates that prices for goods and services in Russell are slightly more expensive than other parts of the US. Overall, Russell is a great place to live due to its strong sense of community and diverse range of businesses.
Russell has an unemployment rate of 5.2%. The US average is 6.0%.
Russell has seen the job market decrease by -9.4% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.
Tax Rates for Russell
- The Sales Tax Rate for Russell is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Russell is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Russell
- The average income of a Russell resident is $38,273 a year. The US average is $37,638 a year.
- The Median household income of a Russell resident is $89,464 a year. The US average is $69,021 a year.