Oil City, PA Metro Area is a great place to live as it offers affordable rent. The 2 bedroom rent in Oil City is $820, which is much lower than the US average of $1,430. In addition to housing costs, groceries are also more affordable in Oil City with an index of 96 versus the national average of 100. This lower cost of living makes it easier for families and individuals to make ends meet.
The metro area has several local companies such as Houser Industries, Conneaut Valley Petroleum Inc., and Foust Industries Inc., providing employment opportunities to locals. Among these companies lies a vibrant cultural center with many attractions such as Oil Creek State Park, Derrick City Park, and the Oil Region Alliance of Business Industry & Tourism making this city a great place to live and work.
Oil City Metro Area has an unemployment rate of 8.1%. The US average is 6.0%.
Oil City Metro Area has seen the job market decrease by -5.8% over the last year. Future job growth over the next ten years is predicted to be 9.5%, which is lower than the US average of 33.5%.
Tax Rates for Oil City Metro Area
- The Sales Tax Rate for Oil City Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Oil City Metro Area is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oil City Metro Area
- The average income of a Oil City Metro Area resident is $29,245 a year. The US average is $37,638 a year.
- The Median household income of a Oil City Metro Area resident is $55,899 a year. The US average is $69,021 a year.