Colchester, VT is a popular destination for travelers and locals alike. With stunning views of Lake Champlain and the Adirondack Mountains, it's easy to see why people come from all over to experience Colchester's beauty. Rent in the area is slightly higher than the US average with a two bedroom rent at $1,520 compared to $1,430 nationally. Additionally, the Grocery Cost Index in Colchester is higher than elsewhere in the US at 110 compared to 100, suggesting that groceries cost more here than other places. Colchester is home to several businesses such as Burlington Drone Technologies, Northern Nuclear Solutions and Supervisory Systems Inc., all of which are respected companies in their respective fields.
Colchester has an unemployment rate of 2.6%. The US average is 6.0%.
Colchester has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 29.7%, which is lower than the US average of 33.5%.
Tax Rates for Colchester
- The Sales Tax Rate for Colchester is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Colchester is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Colchester
- The average income of a Colchester resident is $30,877 a year. The US average is $28,555 a year.
- The Median household income of a Colchester resident is $83,869 a year. The US average is $69,021 a year.