Wells River, VT is a small rural town located in Orange County. It has a population of less than 2000 people, and the town consists mostly of farmland. Despite its small size, Wells River offers numerous locally-owned businesses such as Downey Auto Center, Wells River Hardware, and Wells River Family Market. These businesses provide essential goods and services to the community while also providing job opportunities for local residents. As a result, living costs like rent and groceries are generally lower in Wells River than the average US cost of living. The average 2 bedroom rent in Wells River is $1,130 whereas it is $1,430 in the United States. Similarly, grocery costs index in Wells River is 103 versus 100 on average in the US. This makes Wells River an attractive place to live for those looking for a more affordable lifestyle.
Wells River has an unemployment rate of 3.1%. The US average is 6.0%.
Wells River has seen the job market decrease by -6.3% over the last year. Future job growth over the next ten years is predicted to be 29.6%, which is lower than the US average of 33.5%.
Tax Rates for Wells River
- The Sales Tax Rate for Wells River is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Wells River 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 Wells River
- The average income of a Wells River resident is $18,968 a year. The US average is $37,638 a year.
- The Median household income of a Wells River resident is $35,417 a year. The US average is $69,021 a year.