Silver Springs, NY is a small town located about an hour outside of New York City. It offers residents a quiet suburban lifestyle with easy access to big city amenities. The average two-bedroom rent in Silver Springs is much cheaper than the US average at $800 per month compared to $1,430 across the nation. Additionally, the Grocery Cost Index in Silver Springs is 96 versus 100 in the US, making it more affordable to buy groceries here than in other places.
The town boasts a number of local companies and organizations such as The Silver Springs Public Library, Justice & Soul Massage Spa, Wacko's Diner & Sports Bar, and O'Mara's Irish Pub. These businesses provide employment opportunities for residents and add to the local economy which helps keep living costs low. All things considered, Silver Springs is an affordable place to live with a variety of amenities available that make it an ideal place for families looking for a suburban lifestyle close to bigger cities like New York City.
Silver Springs has an unemployment rate of 6.7%. The US average is 6.0%.
Silver Springs has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 20.6%, which is lower than the US average of 33.5%.
Tax Rates for Silver Springs
- The Sales Tax Rate for Silver Springs is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Silver Springs is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Silver Springs
- The average income of a Silver Springs resident is $22,850 a year. The US average is $28,555 a year.
- The Median household income of a Silver Springs resident is $42,375 a year. The US average is $69,021 a year.