Loraine, TX is a great place to live due to its affordability. The rent for a two bedroom apartment is $730 which is significantly lower than the US average of $1,430. In addition, the grocery cost index in Loraine is much lower than in the US. These figures make Loraine an attractive option for potential residents. Aside from its affordability, Loraine also boasts many locally owned businesses which give the town an authentic feel. Popular businesses in Loraine include Buck's Country Store for groceries and apparel, Crafty Corner Candy & Gifts for gifts and candy, and La Paloma Cantina for Mexican food. With its low cost of living and wide range of local businesses, Loraine makes an ideal home for those looking for a small-town experience at an affordable price.
Loraine has an unemployment rate of 8.8%. The US average is 6.0%.
Loraine has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 1.3%, which is lower than the US average of 33.5%.
Tax Rates for Loraine
- The Sales Tax Rate for Loraine is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Loraine 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 Loraine
- The average income of a Loraine resident is $14,562 a year. The US average is $28,555 a year.
- The Median household income of a Loraine resident is $48,750 a year. The US average is $69,021 a year.