Siler City, NC is a vibrant city with plenty of opportunity for growth. The cost of living is relatively low, with a two bedroom rent of $1,100 compared to the national average of $1,430. Grocery costs are also comparatively lower than the rest of the nation, with an index score of 95 vs. 100 in the US. The city hosts a wide range of industries, such as Aviagen Turkeys Inc., JH Leath & Co., Siler Welding & Hydraulics LLC, and GKN Driveline North America. This gives residents many employment opportunities and job security. Housing markets in Siler City have substantial availability; however prices remain competitive given demand from investors and first-time buyers alike. People enjoy living here because it provides a safe environment and access to amenities while still being more affordable than other cities in North Carolina.
Siler City has an unemployment rate of 3.4%. The US average is 6.0%.
Siler City has seen the job market decrease by -5.5% over the last year. Future job growth over the next ten years is predicted to be 41.8%, which is higher than the US average of 33.5%.
Tax Rates for Siler City
- The Sales Tax Rate for Siler City is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Siler City 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 Siler City
- The average income of a Siler City resident is $23,926 a year. The US average is $37,638 a year.
- The Median household income of a Siler City resident is $40,440 a year. The US average is $69,021 a year.