Algoma, MS is a small city with a population of less than 1,000. It is a great option for those seeking an affordable place to live, as two bedroom rent is over $650 cheaper than the national average. The city also has a low cost of living overall as evidenced by its Grocery Cost Index being 93 compared to the US average of 100.
Algoma has many local businesses that serve the community including Ace Hardware, Dollar General, Algoma Pharmacy and Farmers Insurance. Residents can enjoy outdoor activities at the nearby Arthur R. Outlaw Convention Center and recreation complex or take advantage of educational opportunities at Jones County Junior College. The local library offers free computer access and holds several special events throughout the year. Finally, healthcare services are available through South Central Regional Medical Center in nearby Laurel.
Algoma has an unemployment rate of 6.4%. The US average is 6.0%.
Algoma has seen the job market decrease by -4.1% over the last year. Future job growth over the next ten years is predicted to be 37.4%, which is higher than the US average of 33.5%.
Tax Rates for Algoma
- The Sales Tax Rate for Algoma is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Algoma 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 Algoma
- The average income of a Algoma resident is $32,019 a year. The US average is $37,638 a year.
- The Median household income of a Algoma resident is $45,833 a year. The US average is $69,021 a year.