Madison, AL County is a thriving community with a strong local economy. Major employers in the area include Redstone Arsenal, Intuitive Research and Technology Corporation, A2H Engineering, and Intergraph Corporation. These companies provide well-paying jobs to many people in the county and contribute significantly to its economic growth. Additionally, Madison has a low cost of living with an average two bedroom rent of $1,030 compared to the US average of $1,430. The grocery cost index is also lower than the US average at 97 versus 100. This makes it an attractive place for those looking to stretch their budget further.
Madison County has an unemployment rate of 2.5%. The US average is 6.0%.
Madison County has seen the job market increase by 3.6% over the last year. Future job growth over the next ten years is predicted to be 40.8%, which is higher than the US average of 33.5%.
Tax Rates for Madison County
- The Sales Tax Rate for Madison County is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Madison County is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Madison County
- The average income of a Madison County resident is $32,307 a year. The US average is $28,555 a year.
- The Median household income of a Madison County resident is $71,153 a year. The US average is $69,021 a year.