The Roanoke, VA Metro Area is an attractive place to live for many reasons. The cost of 2 bedroom rent in the area is significantly lower than the US average at $980 versus $1,430. Additionally, the Grocery Cost Index in this area is 99 which is almost equal to the national average of 100. This region has a strong economy with major employers such as Carilion Clinic, Advance Auto Parts, and Volvo Trucks North America. Carilion Clinic provides quality healthcare services to the community while Advance Auto Parts is a leader in the automotive industry providing car parts and services across thousands of locations. Volvo Trucks North America manufactures high-quality commercial vehicles for sale around globe. Overall, Roanoke offers quality services at an affordable price making it a great place to live and work.
Roanoke Metro Area has an unemployment rate of 4.9%. The US average is 6.0%.
Roanoke Metro Area has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Roanoke Metro Area
- The Sales Tax Rate for Roanoke Metro Area is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Roanoke 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 Roanoke Metro Area
- The average income of a Roanoke Metro Area resident is $27,505 a year. The US average is $28,555 a year.
- The Median household income of a Roanoke Metro Area resident is $60,907 a year. The US average is $69,021 a year.