Collinwood, TN is a small town located in the southern part of the state known for its friendly atmosphere. This quaint town boasts a cost of living that is below the national average, with two bedroom rent averaging $750 dollars as compared to the US average of $1430. Additionally, groceries are considerably cheaper in Collinwood than elsewhere in the country with an index of 93 versus 100 in the US. \nLocal businesses include Collinwood Pharmacy which provides medical supplies and services and The Southern Mercantile Co., which sells antiques and unique goods from around the world. Economic activities include farming since much of the land surrounding Collinwood is arable farmland. Recreational activities include visits to nearby lakes like Pickwick Lake and Tims Ford Lake for boating, fishing, and swimming. There are also many museums in town that showcase local culture and history such as Lion’s Den Antique Museum. For those who love outdoor sports, there are plenty of trails nearby for hiking or biking.
Collinwood has an unemployment rate of 5.5%. The US average is 6.0%.
Collinwood has seen the job market decrease by -0.9% over the last year. Future job growth over the next ten years is predicted to be 27.7%, which is lower than the US average of 33.5%.
Tax Rates for Collinwood
- The Sales Tax Rate for Collinwood is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Collinwood 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 Collinwood
- The average income of a Collinwood resident is $21,963 a year. The US average is $37,638 a year.
- The Median household income of a Collinwood resident is $42,031 a year. The US average is $69,021 a year.