Lubbock, TX is a vibrant city with many attractions and opportunities. A major benefit of living in Lubbock is the affordable cost of living. The 2 bedroom rent in this city is $1050 which is lower than the US average of $1430. Additionally, grocery cost index in Lubbock is 92 versus 100 in the US. This means that groceries are cheaper compared to other places in the United States.
Businesses located in Lubbock include South Plains College, Texas Tech University Health Science Center, Covenant Health System and United Supermarkets. There are also several family-owned businesses such as Chapper’s BBQ and Mackenzie Park. All these companies contribute to a strong economy and provide employment opportunities for locals.
Overall, Lubbock offers favorable housing costs and low prices for groceries when compared to other areas around the country. This makes it an attractive place to live for people looking for an affordable lifestyle while still enjoying all of the city amenities that Lubbock has to offer.
Lubbock has an unemployment rate of 5.9%. The US average is 6.0%.
Lubbock has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 39.8%, which is higher than the US average of 33.5%.
Tax Rates for Lubbock
- The Sales Tax Rate for Lubbock is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Lubbock 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 Lubbock
- The average income of a Lubbock resident is $24,168 a year. The US average is $28,555 a year.
- The Median household income of a Lubbock resident is $54,060 a year. The US average is $69,021 a year.