Pennington Gap, VA is a small town nestled in the heart of the Appalachian Mountains. It is known for its low cost of living and access to numerous local companies and services. Residents can take advantage of affordable 2 bedroom rent rates at $780 compared to the US average of $1,430, as well as a grocery cost index that is 93 versus 100 in the US. The town has many amenities such as Pennington Lumber Company for building materials, store-brand pharmacy services from McPeak's Pharmacy, and a range of medical care options at Lee County Hospital. Additionally, residents can find entertainment options such as the Pennington Gap Movie Theater, where they can spend an evening watching one of the latest films.
Pennington Gap has an unemployment rate of 5.6%. The US average is 6.0%.
Pennington Gap has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 17.3%, which is lower than the US average of 33.5%.
Tax Rates for Pennington Gap
- The Sales Tax Rate for Pennington Gap is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Pennington Gap 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 Pennington Gap
- The average income of a Pennington Gap resident is $15,489 a year. The US average is $28,555 a year.
- The Median household income of a Pennington Gap resident is $20,814 a year. The US average is $69,021 a year.