Radford, VA is a beautiful small city located in the New River Valley with a population of around 17,000 people. The cost of living in Radford is significantly lower than that of the US as a whole; average rent for a two bedroom apartment is only $880 compared to the US average of $1,430. The grocery cost index in Radford is 98 compared to 100 nationally, allowing residents to save even more money on food and other groceries. Local businesses such as Radford University and Carilion New River Valley Medical Center are major employers in the area and provide job opportunities for locals. All in all, Radford offers an affordable quality of life for its residents, making it a great place to live.
Radford has an unemployment rate of 5.3%. The US average is 6.0%.
Radford has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Radford
- The Sales Tax Rate for Radford is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Radford 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 Radford
- The average income of a Radford resident is $15,509 a year. The US average is $28,555 a year.
- The Median household income of a Radford resident is $44,360 a year. The US average is $69,021 a year.