Silver City, NM Metro Area is an attractive and cost-effective place to live, with two bedroom rents at $800 compared to the nationwide average of $1,430 for the same size living space. The cost of groceries in Silver City are also quite low; the grocery cost index is 92 compared to 100 in the US. This small city is a great option for people looking for affordability, as well as those interested in business opportunities. Local companies and industries include: mining, education, healthcare, energy services, tourism, retail stores, public service organizations, and technology firms. In addition to these major businesses, there are many small businesses operating in Silver City as well.
Silver City Metro Area has an unemployment rate of 8.2%. The US average is 6.0%.
Silver City Metro Area has seen the job market decrease by -7.4% over the last year. Future job growth over the next ten years is predicted to be 21.4%, which is lower than the US average of 33.5%.
Tax Rates for Silver City Metro Area
- The Sales Tax Rate for Silver City Metro Area is 7.7%. The US average is 7.3%.
- The Income Tax Rate for Silver City Metro Area is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Silver City Metro Area
- The average income of a Silver City Metro Area resident is $25,801 a year. The US average is $37,638 a year.
- The Median household income of a Silver City Metro Area resident is $39,429 a year. The US average is $69,021 a year.