Blacksburg, VA is a charming college town that provides its residents with an abundance of activities, amenities, businesses, and employment opportunities. The town is home to renowned Virginia Polytechnic Institute and State University as well as large corporations such as Volvo Group Trucks Technology USA Inc., Draper Aden Associates Inc., and Radford-Christiansburg-Blacksburg Regional Airport. The cost of living is relatively affordable with 2 bedroom rent averaging $1,080 compared to the US average of $1,430. Groceries are also cheaper in Blacksburg with a grocery cost index at 103 versus 100 in the US. This makes Blacksburg a great place for students and families alike to live affordably while enjoying all that this charming town has to offer.
Blacksburg has an unemployment rate of 4.0%. The US average is 6.0%.
Blacksburg has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Blacksburg
- The Sales Tax Rate for Blacksburg is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Blacksburg 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 Blacksburg
- The average income of a Blacksburg resident is $18,323 a year. The US average is $28,555 a year.
- The Median household income of a Blacksburg resident is $43,804 a year. The US average is $69,021 a year.