Hope Mills, NC is a vibrant city located in Cumberland County with a variety of businesses and attractions. The cost of living is relatively low compared to many other regions of the United States with two-bedroom rent being only $990 per month. Grocery costs are also significantly lower than the US average, as Hope Mills has an index score of 95 versus 100 nationwide. This makes it an attractive place for people on a budget.
The local companies in Hope Mills include a grocery store Plaza Foods, a veterinary clinic Animal Care Associates, and several restaurants like Biscuitville and Pho Saigon Grille. These businesses help provide jobs for locals while also providing necessary services and amenities to the community. Economic stability is further strengthened by nearby military bases such as Fort Bragg which contribute to the region's economy as well as help keep employment levels high. All these factors make Hope Mills an attractive option for those looking for affordable housing and employment opportunities in one location.
Hope Mills has an unemployment rate of 6.5%. The US average is 6.0%.
Hope Mills has seen the job market decrease by -6.6% over the last year. Future job growth over the next ten years is predicted to be 30.0%, which is lower than the US average of 33.5%.
Tax Rates for Hope Mills
- The Sales Tax Rate for Hope Mills is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Hope Mills is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hope Mills
- The average income of a Hope Mills resident is $24,446 a year. The US average is $37,638 a year.
- The Median household income of a Hope Mills resident is $49,802 a year. The US average is $69,021 a year.