Economy in Prosper, TX

Prosper, TX is a city in Denton County located north of Dallas. It is a small city with 6,407 residents, but it offers big-city amenities such as diverse restaurants, retail stores, and entertainment venues. One of the top employers in Prosper is Bank of America which employs over 1000 people. Other major employers include Texas Health Presbyterian Hospital Denton and Toyota Motor Manufacturing Texas, Inc. The local cost of living is slightly higher than the national average due to its proximity to Dallas and other nearby cities. The median rent for a two bedroom property in Prosper is $2,140 compared to $1,430 nationally which reflects the cost of living index which stands at 106 for Prosper versus 100 in the US. Groceries also tend to be more expensive in Prosper than other parts of Texas or the US.

Prosper has an unemployment rate of 5.6%. The US average is 6.0%.

Prosper has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 48.6%, which is higher than the US average of 33.5%.

Tax Rates for Prosper
- The Sales Tax Rate for Prosper is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Prosper 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 Prosper
- The average income of a Prosper resident is $40,957 a year. The US average is $28,555 a year.
- The Median household income of a Prosper resident is $159,164 a year. The US average is $69,021 a year.