Speed, NC is an attractive place to live with many local businesses. With a Grocery Cost Index at 91 compared to the US baseline of 100, residents enjoy lower grocery prices than most other places in the country. In addition, rent for a two-bedroom apartment is $870 in Speed, compared to nearly double that amount nationwide. Some popular local companies include Traction Computing, Greene Fuels Petroleum Distribution, and Olde Mill Golf Course & Country Club. All of these factors combine to make Speed an ideal location for those looking for a budget-friendly town with plenty of opportunities.
Speed has an unemployment rate of 7.5%. The US average is 6.0%.
Speed has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 15.2%, which is lower than the US average of 33.5%.
Tax Rates for Speed
- The Sales Tax Rate for Speed is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Speed 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 Speed
- The average income of a Speed resident is $18,353 a year. The US average is $28,555 a year.
- The Median household income of a Speed resident is $27,500 a year. The US average is $69,021 a year.