Tom Bean is a great place to live for those looking for an affordable cost of living. The two bedroom rent in Tom Bean is nearly $300 cheaper than the national average of $1,430, making it attractive to those with lower budgets. Groceries are also more affordable in Tom Bean as the grocery cost index is 95 versus the US which has a 100 index, making groceries 5% cheaper than the US overall. Local companies such as Melton Truck Lines, Allegiance Bank Texas and Chief Products make up some of Tom Bean's economic landscape providing local employment opportunities while contributing to the overall growth of the community. With its economic stability and low cost of living, Tom Bean makes a great home for anyone looking for an affordable yet comfortable option.
Tom Bean has an unemployment rate of 5.7%. The US average is 6.0%.
Tom Bean has seen the job market increase by 2.7% over the last year. Future job growth over the next ten years is predicted to be 38.9%, which is higher than the US average of 33.5%.
Tax Rates for Tom Bean
- The Sales Tax Rate for Tom Bean is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Tom Bean 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 Tom Bean
- The average income of a Tom Bean resident is $22,948 a year. The US average is $28,555 a year.
- The Median household income of a Tom Bean resident is $60,833 a year. The US average is $69,021 a year.