Penasco, NM is a small town located in the Southwest region of the United States. It has an array of local businesses that attract many tourists and locals alike. These companies include shops like La Paloma Pawn Shop and restaurants like Bobby's Place Mexican Food. With a relatively low cost of living, Penasco offers affordable housing compared to other parts of the country. For instance, on average a two bedroom apartment would cost around $940 as opposed to the US average which is $1,430. Additionally, the Grocery Cost Index in Penasco is 93 versus 100 in the US, meaning groceries are much cheaper here than elsewhere in the nation.
Penasco has an unemployment rate of 10.5%. The US average is 6.0%.
Penasco has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Penasco
- The Sales Tax Rate for Penasco is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Penasco 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 Penasco
- The average income of a Penasco resident is $16,779 a year. The US average is $28,555 a year.
- The Median household income of a Penasco resident is $33,125 a year. The US average is $69,021 a year.