Norman, North Carolina is a small town with a population of around 5,000 people. It is located in the southern part of the state and has easy access to nearby cities like Charlotte and Raleigh. Despite its small size, Norman has many different types of businesses including banks, grocery stores, restaurants, hotels and other service outlets. The cost of living in Norman is relatively low compared to other areas in the United States. The average rent for a two-bedroom apartment is just $770 per month which is significantly lower than the national average of $1,430 per month. Grocery costs are also well below average as the grocery index score in Norman is 95 relative to 100 for the US as whole. Residents can benefit from these lower costs while still enjoying all that Norman has to offer.
Norman has an unemployment rate of 6.7%. The US average is 6.0%.
Norman has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 22.5%, which is lower than the US average of 33.5%.
Tax Rates for Norman
- The Sales Tax Rate for Norman is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Norman 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 Norman
- The average income of a Norman resident is $9,779 a year. The US average is $28,555 a year.
- The Median household income of a Norman resident is $38,500 a year. The US average is $69,021 a year.