Somerville, TN is a small city located in Fayette County. It has a growing population of 8,682 people according to the 2010 census. The cost of living in Somerville is relatively low compared to that of the US. The average 2 bedroom rent in Somerville is $830 per month while the average 2 bedroom rent in the US is at $1,430 per month. Grocery costs are even lower with an index score of 96 versus 100 for the US.
The city is home to various businesses such as Sparrows Nest Floral & Gifts, Delta Fasteners LLC, and Pinnacle Financial Partners. Other notable companies include Chambers Brothers Auto Sales and Savage's Body Shop. All these businesses offer great services to the community and create job opportunities for its citizens.
Living in Somerville, TN offers an affordable lifestyle compared to other cities in the United States. In addition to lower housing costs, grocery prices are also significantly lower than those found nationally which can help further reduce overall living expenses.
Somerville has an unemployment rate of 4.9%. The US average is 6.0%.
Somerville 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 41.0%, which is higher than the US average of 33.5%.
Tax Rates for Somerville
- The Sales Tax Rate for Somerville is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Somerville 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 Somerville
- The average income of a Somerville resident is $19,562 a year. The US average is $28,555 a year.
- The Median household income of a Somerville resident is $24,856 a year. The US average is $69,021 a year.