Folsom, NM is an attractive city to live in because of its affordability. The average 2 bedroom rent in Folsom is $970, significantly lower than the national average of $1,430. Additionally, grocery costs are more affordable at a cost index of 98 versus the national average of 100. There are several companies located in Folsom that make it an appealing place to work as well. These include Emerson Electric Co., Sandia National Laboratories and PNM Resources Inc. All of these companies provide job opportunities for local residents and contribute to the economic activity in the region.
Folsom has an unemployment rate of 4.3%. The US average is 6.0%.
Folsom has seen the job market decrease by -1.3% over the last year. Future job growth over the next ten years is predicted to be 22.2%, which is lower than the US average of 33.5%.
Tax Rates for Folsom
- The Sales Tax Rate for Folsom is 6.1%. The US average is 7.3%.
- The Income Tax Rate for Folsom is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Folsom
- The average income of a Folsom resident is $16,875 a year. The US average is $28,555 a year.
- The Median household income of a Folsom resident is $83,333 a year. The US average is $69,021 a year.