Gloucester Point, VA Economy

Gloucester Point, VA is a small town located on the Hampton Roads harbor in Virginia. It is home to many local businesses such as Gloucester Marketplace, The Shops at Patriot Square, and Pure Bliss Boutique. Gloucester Point has a low cost of living compared to the US average; 2 bedroom rent in Gloucester Point is $1,160 whereas the US 2 bedroom rent averages $1,430. Additionally, grocery cost index in Gloucester Point stands at 99 versus 100 in the US. All these factors make it an attractive location for families and individuals looking for an affordable place to live.

Gloucester Point has an unemployment rate of 4.5%. The US average is 6.0%.

Gloucester Point has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.

Tax Rates for Gloucester Point
- The Sales Tax Rate for Gloucester Point is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Gloucester Point 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 Gloucester Point
- The average income of a Gloucester Point resident is $27,284 a year. The US average is $28,555 a year.
- The Median household income of a Gloucester Point resident is $69,615 a year. The US average is $69,021 a year.

Income by Population Percent

Economy	Gloucester Point, Virginia	United States
	4.5	6
	-5.6%	-6.2%
	32.7%	33.5%
	5.3%	6.2%
	5.8%	4.6%
	$31,707	$37,638
	$69,615	$69,021
	$84,990	$85,028
Population by Occupation
	0.0%	1.2%
	0.0%	0.5%
	7.2%	6.8%
	9.3%	10.0%
	3.1%	2.5%
	17.0%	11.0%
	2.4%	4.8%
	0.3%	0.8%
	1.4%	1.9%
	4.4%	4.7%
	3.0%	1.9%
	6.0%	7.6%
	0.0%	0.1%
	2.0%	4.2%
	10.2%	9.3%
	10.2%	14.0%
	2.6%	2.1%
	8.1%	7.0%
	5.8%	4.8%
	6.9%	4.7%