New Hope, MS is an attractive place to live for many people due to its low cost of living. The average 2 bedroom rent is only $770 in comparison with the US average of $1,430, making it very affordable. Grocery items are also cheaper here than other parts of the country at 98 on the Cost Index compared to 100 in the US. Living in New Hope provides residents with access to local businesses such as Scott's Food Mart, Turner's Drug Store, and ABC Gas Station. People can enjoy outdoor activities at nearby Lakewood Park or take part in community events like Art & Music Festival and New Hope City Fair. With its low cost of living and diverse opportunities for entertainment and employment, New Hope is a great place to call home.
New Hope has an unemployment rate of 6.5%. The US average is 6.0%.
New Hope has seen the job market decrease by -5.6% over the last year. Future job growth over the next ten years is predicted to be 27.8%, which is lower than the US average of 33.5%.
Tax Rates for New Hope
- The Sales Tax Rate for New Hope is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New Hope 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 New Hope
- The average income of a New Hope resident is $28,315 a year. The US average is $37,638 a year.
- The Median household income of a New Hope resident is $70,417 a year. The US average is $69,021 a year.