Monterey, TN is a small town located in Putnam County near the Kentucky border. It has a population of around 3,000 people and offers its residents an affordable cost of living. The average rent for a two bedroom apartment in Monterey is $860 compared to the national average of $1,430. Grocery prices in Monterey also tend to be lower than other parts of the country with an index rating of 94 compared to 100 nationally.
Monterey has many local businesses that make up its bustling economy, including restaurants like The Corner Cafe and Gondola Pizza, clothing boutiques such as Southern Charm Boutique, car dealerships like Douglas Chevrolet-Buick-GMC and recreational facilities like Granville Recreation Complex.
For those who enjoy nature, Monterey is also home to several outdoor attractions such as Edgemont Park which features a beautiful lake surrounded by hiking trails and picnic areas. There are also multiple golf courses nearby including Windtree Golf Club and Memorial Park Golf Course as well as Norris Lake which is perfect for fishing or boating. Overall, Monterey provides a peaceful atmosphere with plenty of activities for locals and visitors alike!
Monterey has an unemployment rate of 4.9%. The US average is 6.0%.
Monterey 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 Monterey
- The Sales Tax Rate for Monterey is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Monterey 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 Monterey
- The average income of a Monterey resident is $14,962 a year. The US average is $28,555 a year.
- The Median household income of a Monterey resident is $33,985 a year. The US average is $69,021 a year.