29003 Bamberg, SC is a small town located in the southern part of the state with an estimated population in 2020 of 2,189 people. It's cost-of -living index lands at 89.8, making it cheaper than everywhere else in the U.S. The average rent for a two-bedroom apartment is $780, while nationally it is much higher at $1,430. Grocery costs in Bamberg are also lower as their grocery cost index stands at 92 versus 100 nationally.
The local economy benefits from Bamberg County School District 1 which employs many staff and teachers within the county; there's also textile manufacturing businesses such as Tek Tronix Inc., and various retail outlets including Dollar General Store and Big Lots that provide employment opportunities. A few other notable companies include Bamberg County Hospital, Avail Home Health Care LLC, Koyal Group Inc., and United Church Homes & Services South Carolina LLC. Additionally, two military bases are closeby – Marine Corps Recruit Depot Parris Island and Naval Nuclear Power Training Command – providing additional economic stimulus to the area.
Bamberg (zip 29003) has an unemployment rate of 8.9%. The US average is 6.0%.
Bamberg (zip 29003) has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 18.4%, which is lower than the US average of 33.5%.
Tax Rates for Bamberg (zip 29003)
- The Sales Tax Rate for Bamberg (zip 29003) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Bamberg (zip 29003) is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bamberg (zip 29003)
- The average income of a Bamberg (zip 29003) resident is $18,823 a year. The US average is $28,555 a year.
- The Median household income of a Bamberg (zip 29003) resident is $46,295 a year. The US average is $69,021 a year.