McMinn, TN County is an area that offers residents a great balance between affordability and quality of life. The average 2 bedroom rent in McMinn is $840, which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in McMinn is 95 compared to 100 in the US. This means groceries for McMinn residents are much more affordable than in other parts of the nation. Local businesses such as restaurants and retail stores could benefit from this economic advantage by attracting more customers who can enjoy their services without breaking their budget. These same businesses must also remain competitive when it comes to pricing since they have lower overhead costs due to the low rent and grocery prices. Customers will be able to find great deals on products and services within McMinn County, so local businesses have an opportunity to capitalize on this advantage if they can provide quality offerings at a reasonable price.
McMinn County has an unemployment rate of 5.3%. The US average is 6.0%.
McMinn County has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for McMinn County
- The Sales Tax Rate for McMinn County is 9.0%. The US average is 7.3%.
- The Income Tax Rate for McMinn County is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for McMinn County
- The average income of a McMinn County resident is $20,615 a year. The US average is $28,555 a year.
- The Median household income of a McMinn County resident is $51,253 a year. The US average is $69,021 a year.