Mineral Wells, TX is a city in Palo Pinto County with a population of 16,788. It is home to several companies such as Sinclair Oil Corporation and Mineral Wells Industrial Airpark. The cost of living in Mineral Wells is comparatively lower than the United States average due to the rent for a two-bedroom apartment being $1,080 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Mineral Wells is 94 versus 100 in the US. This demonstrates that while living in Mineral Wells residents can get more for their money when it comes to groceries and housing costs.
Mineral Wells has an unemployment rate of 7.3%. The US average is 6.0%.
Mineral Wells has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 36.3%, which is higher than the US average of 33.5%.
Tax Rates for Mineral Wells
- The Sales Tax Rate for Mineral Wells is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Mineral Wells 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 Mineral Wells
- The average income of a Mineral Wells resident is $17,473 a year. The US average is $28,555 a year.
- The Median household income of a Mineral Wells resident is $53,385 a year. The US average is $69,021 a year.