Grandfalls, TX is a small town with a population under 2,000 people. It is known for its affordability, with the average 2 bedroom rent being $1,040 compared to the nationwide average of $1,430. The Grocery Cost Index in Grandfalls is 86 versus 100 in the US, making groceries even more affordable. Grandfalls provides several local businesses that make up its economy. The biggest employer in town is Grandfalls Oil & Gas, an oil and gas company which has been in operation since 1920. Another significant employer is Grandfalls Medical Center which offers many medical services to residents of the area. These businesses are important to the town because they provide jobs and economic stability to its citizens.
Grandfalls has an unemployment rate of 9.4%. The US average is 6.0%.
Grandfalls has seen the job market increase by 4.1% over the last year. Future job growth over the next ten years is predicted to be 21.3%, which is lower than the US average of 33.5%.
Tax Rates for Grandfalls
- The Sales Tax Rate for Grandfalls is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Grandfalls 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 Grandfalls
- The average income of a Grandfalls resident is $13,199 a year. The US average is $28,555 a year.
- The Median household income of a Grandfalls resident is $50,833 a year. The US average is $69,021 a year.