Prospect, TN is a small town located in the southwestern part of the state, near the Tennessee River. It has an estimated population of 38477, and is known for its friendly local businesses. The average 2 bedroom rent in Prospect is $770, lower than the US average of $1430. Additionally, the Grocery Cost Index in Prospect is 93 compared to 100 nationally. Due to its proximity to the river, many residents enjoy fishing and other water activities during their free time. Local businesses near Prospect include Clouse Construction Company, Countryside Cafe & Caterry, and Prospect Parts & Equipment Co., all of which have earned excellent reviews from customers for their quality products and services.
Prospect (zip 38477) has an unemployment rate of 4.8%. The US average is 6.0%.
Prospect (zip 38477) has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 44.9%, which is higher than the US average of 33.5%.
Tax Rates for Prospect (zip 38477)
- The Sales Tax Rate for Prospect (zip 38477) is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Prospect (zip 38477) 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 Prospect (zip 38477)
- The average income of a Prospect (zip 38477) resident is $21,433 a year. The US average is $28,555 a year.
- The Median household income of a Prospect (zip 38477) resident is $55,800 a year. The US average is $69,021 a year.