Monterey Park, NM is a vibrant community with plenty to offer locals and visitors alike. The two bedroom rent in Monterey Park is $1,200 compared to the US average of $1,430 per month; this makes it an affordable place to live. Local companies such as Monterey Tire Company, Lucky's Restaurant, and Baja Auto Collision provide quality services and goods for residents. Additionally, the Grocery Cost Index in Monterey Park is 93 compared to 100 in the US making it slightly lower than the national average when it comes to food costs. All these factors combine to make Monterey Park an attractive place for anyone looking for an affordable place to live with plenty of local amenities.
Monterey Park has an unemployment rate of 8.0%. The US average is 6.0%.
Monterey Park has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Monterey Park
- The Sales Tax Rate for Monterey Park is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Monterey Park 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 Monterey Park
- The average income of a Monterey Park resident is $6,858 a year. The US average is $28,555 a year.
- The Median household income of a Monterey Park resident is $35,021 a year. The US average is $69,021 a year.