Summit, MO is a small town located near the Missouri River in the western part of the state. It is a friendly community with an abundance of local businesses, including Harrison Grain & Feed Co., Summit Orchard & Garden Center, and Abbey's Tavern. Residents enjoy a variety of outdoor activities at nearby nature preserves and parks. With its low 2 bedroom rent prices at $770 per month, Summit, MO is an affordable place to live for families or individuals on a budget. The grocery cost index in Summit is also lower than average at 94 versus 100 in the US. With all these amenities, it is no wonder why so many people have chosen to make Summit, MO their home.
Summit has an unemployment rate of 4.3%. The US average is 6.0%.
Summit has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Summit
- The Sales Tax Rate for Summit is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Summit 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 Summit
- The average income of a Summit resident is $27,181 a year. The US average is $28,555 a year.
- The Median household income of a Summit resident is $110,223 a year. The US average is $69,021 a year.