Martin, TN Metro Area is located in Northwest Tennessee and is home to several major employers. The city has a low cost of living when compared to the US average and this includes lower rent and groceries costs. For example, the median two-bedroom rental cost in Martin is $750 per month while it’s $1,430 for the US as a whole. Additionally, the grocery cost index in Martin is 89 versus 100 in the US. \nMajor companies located in the area include Tyson Foods, Bridgestone Americas, AutoZone, Medline Industries Inc., Federal Express Corporation (FedEx) and electrospec INC. These companies provide residents with a variety of employment opportunities as well as enriching their local economy.
Martin Metro Area has an unemployment rate of 4.6%. The US average is 6.0%.
Martin 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 33.0%, which is lower than the US average of 33.5%.
Tax Rates for Martin Metro Area
- The Sales Tax Rate for Martin Metro Area is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Martin Metro Area 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 Martin Metro Area
- The average income of a Martin Metro Area resident is $24,744 a year. The US average is $37,638 a year.
- The Median household income of a Martin Metro Area resident is $43,773 a year. The US average is $69,021 a year.