Olustee, OK is a small town in Oklahoma with a population of under 500 people. The cost of living in Olustee is much lower than that of the US as a whole, making it an attractive option for those looking to cut down on their expenses. The average 2 bedroom rent for Olustee is $710 compared to $1,430 nationwide, and the Grocery Cost Index is 87 versus 100 in the US. This presents many businesses with an opportunity to capitalize on the lower cost of living by offering services that are cheaper than elsewhere. Local companies that could take advantage of this include restaurants, retail stores, car dealerships, and home improvement service providers. By offering competitive prices and excellent customer service, these businesses can benefit from the lower cost of living and attract customers from all around.
Olustee has an unemployment rate of 3.0%. The US average is 6.0%.
Olustee has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 24.9%, which is lower than the US average of 33.5%.
Tax Rates for Olustee
- The Sales Tax Rate for Olustee is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Olustee is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Olustee
- The average income of a Olustee resident is $20,044 a year. The US average is $37,638 a year.
- The Median household income of a Olustee resident is $53,097 a year. The US average is $69,021 a year.