Phenix, VA is an attractive place to live due to its low cost of living. The 2 bedroom rent rate in Phenix, VA is only $770 compared to the US average of $1,430, proving that it can be a more affordable option than many other locations. Furthermore, the Grocery Cost Index in Phenix is 93 versus 100 in the US. This means that there are great savings opportunities for groceries in Phenix.
Some popular local companies include Walmart, Food Lion and Lowe's Home Improvement. These companies offer competitive prices on everyday items that are necessary for daily living. Additionally, Walmart offers an extensive selection of goods with a variety of brands and styles to choose from which makes them particularly attractive to those looking for a one-stop shop for all their needs. Food Lion is another popular grocery store that offers everyday low prices on fresh produce and staples like breads and eggs making them ideal for those trying to save money while shopping. Lastly, Lowe’s Home Improvement has everything needed to make home upgrades or repairs quickly and easily at a fraction of the price customers might find elsewhere.
Phenix has an unemployment rate of 5.2%. The US average is 6.0%.
Phenix has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%.
Tax Rates for Phenix
- The Sales Tax Rate for Phenix is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Phenix 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 Phenix
- The average income of a Phenix resident is $24,061 a year. The US average is $37,638 a year.
- The Median household income of a Phenix resident is $66,250 a year. The US average is $69,021 a year.