The cost of living for Melbourne, FL (32940) is considerable higher than the US average. According to recent data, the typical 2 bedroom rental costs $1,820 compared to the US average of $1,430. Additionally, the grocery cost index is 104 versus 100 in the US. For those looking to start a new life or business in Melbourne, FL there are local companies such as Harris Corporation (a technology-focused aerospace and defense contractor), DRS Technologies (an innovative defense-solutions provider), and Northrop Grumman Systems Corp (an industry leader in unmanned air vehicles). All three provide ample opportunities for those looking to find employment and start their own business ventures.
Melbourne (zip 32940) has an unemployment rate of 4.5%. The US average is 6.0%.
Melbourne (zip 32940) has seen the job market decrease by -4.2% over the last year. Future job growth over the next ten years is predicted to be 42.2%, which is higher than the US average of 33.5%.
Tax Rates for Melbourne (zip 32940)
- The Sales Tax Rate for Melbourne (zip 32940) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Melbourne (zip 32940) 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 Melbourne (zip 32940)
- The average income of a Melbourne (zip 32940) resident is $48,390 a year. The US average is $37,638 a year.
- The Median household income of a Melbourne (zip 32940) resident is $86,347 a year. The US average is $69,021 a year.