Algood, TN is a small city with a tranquil atmosphere located in the south eastern part of Tennessee. The average two bedroom rent is $1,140, which is significantly lower than the US average of $1,430. The grocery cost index in Algood is much lower than the US at 97 compared to 100 respectively. This makes it an ideal location for those looking for an affordable place to live.
Local businesses in Algood include Bank of Putnam County, Turner Brothers Oil Company, Walker Electric Supply Co., and Watkins Medical Center. There are also many great recreational activities such as fishing and golfing at Algood City Park or walking trails around the lake at nearby Cordell Hull Birthplace State Park.
Overall, living in Algood can be quite economical due to its low cost rent and grocery prices. The city offers various local businesses along with outdoor recreational activities that make it an ideal place to live or visit.
Algood has an unemployment rate of 4.9%. The US average is 6.0%.
Algood has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 43.3%, which is higher than the US average of 33.5%.
Tax Rates for Algood
- The Sales Tax Rate for Algood is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Algood is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Algood
- The average income of a Algood resident is $18,685 a year. The US average is $28,555 a year.
- The Median household income of a Algood resident is $36,084 a year. The US average is $69,021 a year.