Milam, TX is a small town located in Central Texas. It has a population of roughly 1,000 people and is home to several local businesses. The cost of living in Milam is much lower than the national average. The average rent for a two-bedroom apartment is only $840, compared to the national average of $1,430. Additionally, the grocery cost index in Milam is 93 versus 100 in the US. This makes it an attractive place for people who want to live on a budget. Some local companies include Milam’s Mercantile, MD Electric Co., and Milam Pet Supply. With its low cost of living and variety of businesses, Milam makes an ideal place to settle down and start anew.
Milam has an unemployment rate of 11.0%. The US average is 6.0%.
Milam has seen the job market increase by 4.3% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for Milam
- The Sales Tax Rate for Milam is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Milam 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 Milam
- The average income of a Milam resident is $19,328 a year. The US average is $28,555 a year.
- The Median household income of a Milam resident is $40,521 a year. The US average is $69,021 a year.