Cobalt, MO is an affordable place to live with the average 2 bedroom rent being $820 while the national cost for a 2 bedroom rental is $1,430. The town also offers reasonable grocery prices as the Grocery Cost Index of Cobalt is 94 compared to the US index which stands at 100. It is an ideal location for those looking for a more budget-friendly lifestyle.
The town of Cobalt has several local businesses that help drive its economy including Smith Manufacturing, an industrial engineering firm, and Luscious Bakery, a dessert shop specializing in cakes, pies, and other treats. Additionally, there are small family-owned farms all around the area producing fresh fruits and vegetables that can be found in farmer's markets and restaurants within the town. There are also some modest tourism attractions in Cobalt such as museums and historical sites that can draw visitors from surrounding areas. These businesses help give Cobalt its unique character and provide citizens with plenty of job opportunities.
Cobalt has an unemployment rate of 4.5%. The US average is 6.0%.
Cobalt has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Cobalt
- The Sales Tax Rate for Cobalt is 6.2%. The US average is 7.3%.
- The Income Tax Rate for Cobalt is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Cobalt
- The average income of a Cobalt resident is $14,717 a year. The US average is $28,555 a year.
- The Median household income of a Cobalt resident is $33,333 a year. The US average is $69,021 a year.