Rainbow City, AL is a city located in Etowah County. With a population of around 8,000 people, it is small but vibrant. The average two-bedroom rent here is $900 per month, about one-third lower than the US average of $1430. Similarly, grocery cost index is 96 compared to 100 nationwide. Rainbow City has many local businesses that contribute to its economy such as Curtis Plumbing & Electric Supply Co., Renfroe's Pecans and Candy Company and Miller Paper Co., Inc. Salaries vary depending on the industry; for example, according to Glassdoor the average salary for an electrical engineer at Curtis Plumbing & Electric Supply Co. is $74k per year while a production worker at Renfroe's Pecans and Candy Company earns around $21k annually.
Rainbow City (zip 35906) has an unemployment rate of 4.0%. The US average is 6.0%.
Rainbow City (zip 35906) has seen the job market decrease by -8.4% over the last year. Future job growth over the next ten years is predicted to be 30.9%, which is lower than the US average of 33.5%.
Tax Rates for Rainbow City (zip 35906)
- The Sales Tax Rate for Rainbow City (zip 35906) is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Rainbow City (zip 35906) is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Rainbow City (zip 35906)
- The average income of a Rainbow City (zip 35906) resident is $31,224 a year. The US average is $37,638 a year.
- The Median household income of a Rainbow City (zip 35906) resident is $51,975 a year. The US average is $69,021 a year.