Big Stone Gap, VA Metro Area is a great place to live and work. The cost of living there is quite affordable, with the 2 Bedroom rent being significantly lower than the US average at $790 per month. In addition, the Grocery Cost Index is 93 compared to 100 in the US. This area has many local companies that provide essential services and products. Some of these include Stone Gap Gas Company, First Bank & Trust Co., Appalachian Electric Cooperative, and Big Stone Gap Bank. These businesses have been operating in the area for many years and contribute to a thriving economy and community.
Big Stone Gap Metro Area has an unemployment rate of 6.8%. The US average is 6.0%.
Big Stone Gap Metro Area has seen the job market decrease by -1.5% over the last year. Future job growth over the next ten years is predicted to be 9.1%, which is lower than the US average of 33.5%.
Tax Rates for Big Stone Gap Metro Area
- The Sales Tax Rate for Big Stone Gap Metro Area is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Big Stone Gap Metro Area is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Big Stone Gap Metro Area
- The average income of a Big Stone Gap Metro Area resident is $19,632 a year. The US average is $28,555 a year.
- The Median household income of a Big Stone Gap Metro Area resident is $44,131 a year. The US average is $69,021 a year.