New Market, TN is an affordable place to live and work with a wide variety of businesses available in the area. It is a small city located in Eastern Tennessee, with a population of just over 3,000 people. The average two bedroom rent in New Market is only $740, which is much lower than the US average of $1,430. Grocery costs are also lower than the national average, with an index rating of 95 versus 100 in the US. This is great news for those looking to settle down in this area because it will save them money on their monthly expenses.
New Market has plenty of local companies to choose from such as G & S Manufacturing Inc., Nisley Equipment Company, and Sawyers Machine Shop. There are also several restaurants around town like Lolly's Kitchen and The Tumbleweed Cafe that offer delicious food for locals and visitors alike. With all these options available combined with a low cost of living makes New Market a great place to start and raise a family.
New Market has an unemployment rate of 5.0%. The US average is 6.0%.
New Market has seen the job market decrease by -3.9% over the last year. Future job growth over the next ten years is predicted to be 39.1%, which is higher than the US average of 33.5%.
Tax Rates for New Market
- The Sales Tax Rate for New Market is 9.8%. The US average is 7.3%.
- The Income Tax Rate for New Market 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 New Market
- The average income of a New Market resident is $29,230 a year. The US average is $37,638 a year.
- The Median household income of a New Market resident is $60,714 a year. The US average is $69,021 a year.