Fannett, TX is a small town located in the southeast part of the state. The cost of living in Fannett is relatively low compared to other cities and towns in the US. 2-bedroom rentals are typically around $910, significantly lower than the US average of $1,430. Similarly, the Grocery Cost Index for Fannett is 89 versus 100 for the US on average. There are many local businesses in Fannett that contribute to its economy, such as L&M Feed & Supply Co., RNR Tire Express & Custom Wheels, and Maureen's Floral Design Studio. Residents also have access to nearby amenities such as Beaumont Municipal Airport and Gator Country Adventure Park.
Fannett has an unemployment rate of 11.5%. The US average is 6.0%.
Fannett has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Fannett
- The Sales Tax Rate for Fannett is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Fannett 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 Fannett
- The average income of a Fannett resident is $32,289 a year. The US average is $28,555 a year.
- The Median household income of a Fannett resident is $87,938 a year. The US average is $69,021 a year.