Bynum, TX is a small town located in Hill County near the Brazos River. It has a population of approximately 600 people and is known for its close-knit community feel. The average 2 bedroom rent in this area is $870 which is significantly lower than the national average of $1,430. In addition, the grocery cost index in Bynum is 91 out of 100 compared to the US average.
The town of Bynum has a few local companies that contribute to its economy such as Toth Tire Service and Hill Country Machine & Tool Incorporated. Bynum also has an educational system that serves students from Pre-Kindergarten through 8th grade with Bynum Elementary as the primary educational center. In addition, there are several post-secondary institutions close by such as Tarleton State University and McLennan Community College where students can further their education.
Bynum has an unemployment rate of 6.5%. The US average is 6.0%.
Bynum has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 38.1%, which is higher than the US average of 33.5%.
Tax Rates for Bynum
- The Sales Tax Rate for Bynum is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Bynum 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 Bynum
- The average income of a Bynum resident is $15,745 a year. The US average is $37,638 a year.
- The Median household income of a Bynum resident is $51,389 a year. The US average is $69,021 a year.