Wharton, TX is a small city in Colorado County with a population of 8,793 according to the 2019 Census. The cost of living in Wharton is significantly lower than the national average. The average 2 bedroom rent rate in Wharton is $850 compared to the national 2 bedroom rent rate of $1,430. Additionally, the Grocery Cost Index in Wharton is 95 versus 100 nationally. This indicates that groceries are cheaper in Wharton than elsewhere. Notable businesses located within the city include Academy Sports + Outdoors, Home Depot, Walmart Supercenter, and Best Buy. All these factors make Wharton an attractive place to live for people seeking an affordable lifestyle.
Wharton has an unemployment rate of 7.1%. The US average is 6.0%.
Wharton has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Wharton
- The Sales Tax Rate for Wharton is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Wharton 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 Wharton
- The average income of a Wharton resident is $15,998 a year. The US average is $28,555 a year.
- The Median household income of a Wharton resident is $42,555 a year. The US average is $69,021 a year.