The Florence-Muscle Shoals, AL Metro Area is a vibrant and diverse community that offers an array of cultural and economic opportunities. It has a lower cost of living than the national average, with two bedroom rent at $810 compared to $1430 in the US. Grocery prices are also lower with a Grocery Cost Index of 94 versus 100 in the US. This area is home to some large companies such as Tyson Foods, Lockheed Martin, Clearent Payments, and Flowserve Corporation. There are also plenty of local attractions that draw visitors from all over the country, such as the W.C. Handy Music Festival, the Florence-Lauderdale Coliseum, McFarland Park, and Natchez Trace Parkway. With its competitive economy and rich culture, Florence-Muscle Shoals is an ideal place to live or visit.
Florence-Muscle Shoals Metro Area has an unemployment rate of 3.1%. The US average is 6.0%.
Florence-Muscle Shoals Metro Area has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 26.9%, which is lower than the US average of 33.5%.
Tax Rates for Florence-Muscle Shoals Metro Area
- The Sales Tax Rate for Florence-Muscle Shoals Metro Area is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Florence-Muscle Shoals Metro Area 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 Florence-Muscle Shoals Metro Area
- The average income of a Florence-Muscle Shoals Metro Area resident is $29,070 a year. The US average is $37,638 a year.
- The Median household income of a Florence-Muscle Shoals Metro Area resident is $50,942 a year. The US average is $69,021 a year.