Lafayette, TN is a small city located in Macon County, TN. It is home to many families and young professionals looking for a peaceful and affordable place to live. With an estimated population of 5,084 in 2015, the city offers housing options that are on average much more affordable than those found in other parts of the country. For example, the median cost of a 2 bedroom rental property in Lafayette is $860 compared to the US median of $1,430. In addition, grocery costs in Lafayette are slightly lower than the national average as the Grocery Cost Index stands at 94 versus 100 nationally. There are several employers located in Lafayette such as Macon County Public Utility District No 1 and Macon County Chimney Service Incorporated which have been providing jobs to individuals living in this area for years.
Lafayette has an unemployment rate of 4.8%. The US average is 6.0%.
Lafayette has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 47.5%, which is higher than the US average of 33.5%.
Tax Rates for Lafayette
- The Sales Tax Rate for Lafayette is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Lafayette 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 Lafayette
- The average income of a Lafayette resident is $17,958 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette resident is $35,580 a year. The US average is $69,021 a year.