Chincoteague, VA is a quaint coastal town located on Virginia’s Eastern Shore. The cost of living in Chincoteague is quite affordable, with two bedroom rent averaging $810 compared to the US average of $1,430. Additionally, the Grocery Cost Index for Chincoteague is an even 100 when compared to the US index, making food prices relatively equal. Local businesses such as Village Pharmacy and Ellis Marina provide residents with quality goods and services to meet their everyday needs. Overall, Chincoteague provides an affordable place to live while still maintaining a high level of quality services compared to other American cities.
Chincoteague has an unemployment rate of 6.1%. The US average is 6.0%.
Chincoteague has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Chincoteague
- The Sales Tax Rate for Chincoteague is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Chincoteague 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 Chincoteague
- The average income of a Chincoteague resident is $30,862 a year. The US average is $28,555 a year.
- The Median household income of a Chincoteague resident is $50,795 a year. The US average is $69,021 a year.