Madisonville, TN is a popular town located in Monroe County that is known for its diverse attractions, affordable rent prices and great local businesses. Renting a two-bedroom in Madisonville is significantly cheaper than the US average, at only $770 versus $1,430. Moreover, food costs in Madisonville are more affordable with a Grocery Cost Index of 96 compared to the national average of 100. The city has plenty of activities for all ages to enjoy like Cheerokee Lake, where visitors can enjoy fishing and other water sports. Local businesses include Jeffersons General Store, which sells locally made arts & crafts and handmade furniture; Good Times Country Kitchen, offering delicious Southern cuisine; and Miller's Body Shop & Auto Sales for automotive repairs. Overall, Madisonville is an ideal place to live due to its low cost of living and abundance of activities.
Madisonville has an unemployment rate of 5.1%. The US average is 6.0%.
Madisonville has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 41.1%, which is higher than the US average of 33.5%.
Tax Rates for Madisonville
- The Sales Tax Rate for Madisonville is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Madisonville 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 Madisonville
- The average income of a Madisonville resident is $15,313 a year. The US average is $28,555 a year.
- The Median household income of a Madisonville resident is $33,835 a year. The US average is $69,021 a year.