Cumberland Gap, TN is a small town located in the southeastern corner of the state. It offers peaceful living among rolling hills and panoramic views of the surrounding area. The cost of living is quite affordable here, with two-bedroom rent averaging around $760 compared to $1,430 nationwide. Grocery costs are also quite reasonable with an index of 94 versus 100 in the US. This makes Cumberland Gap an attractive option for those looking to live more frugally or on a budget. Local companies include Tri-State Home Health Care Services, J&L Hardwoods & Millwork Inc., and Little Valley Logging Co., all providing specialized services to residents and visitors alike. In short, Cumberland Gap provides a unique balance between affordability and natural beauty that make it an ideal place to call home.
Cumberland Gap has an unemployment rate of 5.8%. The US average is 6.0%.
Cumberland Gap has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Cumberland Gap
- The Sales Tax Rate for Cumberland Gap is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Cumberland Gap 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 Cumberland Gap
- The average income of a Cumberland Gap resident is $9,924 a year. The US average is $28,555 a year.
- The Median household income of a Cumberland Gap resident is $36,250 a year. The US average is $69,021 a year.