Big Stone Gap, VA is a small town whose population has remained relatively steady for the past few decades. It has a quaint and cozy atmosphere that appeals to many residents. The cost of living is very affordable in Big Stone Gap, with two bedroom rent at $790, which is much lower than the US average of $1,430. Grocery costs are also more affordable due to the Grocery Cost Index being 95 versus 100 in the US. For those looking for employment opportunities, local companies such as Appalachian Telephone Co., Wise County Public Schools and Lonesome Pine Hospital provide plenty of job options. Despite its size, Big Stone Gap offers plenty of amenities to its residents that make it a great place to live.
Big Stone Gap has an unemployment rate of 6.7%. The US average is 6.0%.
Big Stone Gap has seen the job market decrease by -1.8% over the last year. Future job growth over the next ten years is predicted to be 9.9%, which is lower than the US average of 33.5%.
Tax Rates for Big Stone Gap
- The Sales Tax Rate for Big Stone Gap is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Big Stone Gap is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Big Stone Gap
- The average income of a Big Stone Gap resident is $14,147 a year. The US average is $28,555 a year.
- The Median household income of a Big Stone Gap resident is $57,431 a year. The US average is $69,021 a year.