Timpson, TX is a small city located in East Texas with a population of 2,063. It offers an affordable cost of living compared to the US overall. For example, the average 2 bedroom rent in Timpson is $760 per month, while the US is $1,430; also, groceries in Timpson are approximately 10% cheaper than in other parts of the country given its Grocery Cost Index which is 90 versus 100 in the US. In terms of businesses, there are local companies like Timpson Diesel Services & Welding Inc., Foskey Electric Company, and Joe's Auto Repair that provide services to the people living there. All in all, Timpson is a great city to live due to its low cost of living compared to other cities across America.
Timpson has an unemployment rate of 6.9%. The US average is 6.0%.
Timpson has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 14.1%, which is lower than the US average of 33.5%.
Tax Rates for Timpson
- The Sales Tax Rate for Timpson is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Timpson 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 Timpson
- The average income of a Timpson resident is $20,802 a year. The US average is $37,638 a year.
- The Median household income of a Timpson resident is $35,052 a year. The US average is $69,021 a year.