Nantucket, MA County is a beautiful area filled with stunning beaches and lighthouses. The cost of living in this county is relatively high compared to the US average. According to the information provided, the 2 bedroom rent rate is $2,620 versus $1,430 for the US and the local grocery cost index is 123 versus 100 in the US. This rise in living expenses reflects Nantucket's eclectic culture and its thriving local businesses. Companies such as Nantucket Island Resorts, The Nantucket Hotel & Resort, and The Whaling Museum are some examples of notable businesses located on this island.
Nantucket County has an unemployment rate of 14.8%. The US average is 6.0%.
Nantucket County has seen the job market decrease by -5.7% over the last year. Future job growth over the next ten years is predicted to be 38.5%, which is higher than the US average of 33.5%.
Tax Rates for Nantucket County
- The Sales Tax Rate for Nantucket County is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Nantucket County is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Nantucket County
- The average income of a Nantucket County resident is $52,324 a year. The US average is $37,638 a year.
- The Median household income of a Nantucket County resident is $116,571 a year. The US average is $69,021 a year.