Oil City, PA is a small town located in Venango County with a population of around 5,400 people. The rent for two bedrooms in Oil City is quite low compared to other places throughout the US, costing only $740 on average compared to a national average of $1,430. The grocery cost index in Oil City is also lower than the US at 95 versus 100. People living in Oil City have access to some local businesses including B&B Foods Inc., Lewis Automotive, and KMC Telecommunications. Overall, Oil City offers much cheaper rent and groceries than the typical US city while still providing a variety of local businesses for residents to shop from.
Oil City has an unemployment rate of 8.1%. The US average is 6.0%.
Oil City has seen the job market decrease by -5.8% over the last year. Future job growth over the next ten years is predicted to be 9.5%, which is lower than the US average of 33.5%.
Tax Rates for Oil City
- The Sales Tax Rate for Oil City is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Oil City is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oil City
- The average income of a Oil City resident is $25,988 a year. The US average is $37,638 a year.
- The Median household income of a Oil City resident is $44,272 a year. The US average is $69,021 a year.