Hampton, VA is an ideal city for individuals looking for a comfortable suburban lifestyle. As the content states, the average 2 bedroom rent in Hampton, VA is $1,310 which is much lower than the US average of $1,430. Additionally, groceries are cheaper in Hampton with a Grocery Cost Index of 96 compared to 100 throughout the United States. The cost of living in Hampton makes it attractive to those who want to save money while also having access to great amenities and services.
Some notable companies located in Hampton include Northrop Grumman Newport News Shipbuilding Inc., Canon Virginia Inc., and Ferguson Enterprises Inc. All are sizable employers that help drive economic growth within the area. It's easy to see why people would want to live here: there’s an abundance of job opportunities and housing costs are relatively low compared with other areas.
Hampton has an unemployment rate of 7.2%. The US average is 6.0%.
Hampton has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 30.0%, which is lower than the US average of 33.5%.
Tax Rates for Hampton
- The Sales Tax Rate for Hampton is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hampton 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 Hampton
- The average income of a Hampton resident is $25,131 a year. The US average is $28,555 a year.
- The Median household income of a Hampton resident is $59,380 a year. The US average is $69,021 a year.