Wise, VA is a small town located in Southwest Virginia. It is renowned for its scenic beauty and sense of community. The cost of living in Wise, VA is quite affordable. The average 2 bedroom rental costs $1,020 compared to the US average of $1,430. Additionally, the grocery cost index in Wise is 94 compared to 100 nationally.
The local economy in Wise consists of many small businesses that provide unique services to residents. These include companies such as Big E Tire & Automotive Repair, Wisecare Pharmacy, and Lees Flower Shop & Greenhouse that offer helpful services and products while supporting the local community. In short, those who choose to settle down in Wise can do so at a reasonable cost with access to all kinds of amenities that make it an enjoyable place to live.
Wise has an unemployment rate of 6.7%. The US average is 6.0%.
Wise has seen the job market decrease by -1.8% over the last year. Future job growth over the next ten years is predicted to be 9.9%, which is lower than the US average of 33.5%.
Tax Rates for Wise
- The Sales Tax Rate for Wise is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Wise 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 Wise
- The average income of a Wise resident is $35,015 a year. The US average is $28,555 a year.
- The Median household income of a Wise resident is $41,250 a year. The US average is $69,021 a year.