Montgomery, AL Metro Area is a vibrant and active metropolitan area located in Alabama. It has a strong local economy that is driven by many major companies such as Hyundai Motors Manufacturing Alabama, RSA Insurance Group, Raycom Media, and Baptist Health. The city also has a lower cost of living than the US average, with an average two bedroom rent of $980 compared to the US average of $1,430. Additionally, the grocery cost index for the metro area is 94 compared to 100 nationally.
Montgomery Metro Area has an unemployment rate of 4.5%. The US average is 6.0%.
Montgomery Metro Area has seen the job market decrease by -3.9% over the last year. Future job growth over the next ten years is predicted to be 31.3%, which is lower than the US average of 33.5%.
Tax Rates for Montgomery Metro Area
- The Sales Tax Rate for Montgomery Metro Area is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Montgomery 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 Montgomery Metro Area
- The average income of a Montgomery Metro Area resident is $30,258 a year. The US average is $37,638 a year.
- The Median household income of a Montgomery Metro Area resident is $56,356 a year. The US average is $69,021 a year.