West Palm Beach, FL 33406 is a city on the rise. It has attracted many businesses to the area, with prominent companies such as Modernizing Medicine, Florida Power & Light Company, and United Technologies Corporation establishing their presence. The cost of living in West Palm Beach is slightly higher than the national average; for example, the average rent for a two bedroom apartment is $1,770 compared to $1,430 across the country. Additionally, food costs in West Palm Beach are higher as evidenced by a Grocery Cost Index score of 105 compared to 100 nationwide. When considering moving to West Palm Beach it is important to factor in these additional expenses when making calculations about budgeting and overall finances.
West Palm Beach (zip 33406) has an unemployment rate of 4.7%. The US average is 6.0%.
West Palm Beach (zip 33406) has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 39.6%, which is higher than the US average of 33.5%.
Tax Rates for West Palm Beach (zip 33406)
- The Sales Tax Rate for West Palm Beach (zip 33406) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for West Palm Beach (zip 33406) 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 West Palm Beach (zip 33406)
- The average income of a West Palm Beach (zip 33406) resident is $23,471 a year. The US average is $28,555 a year.
- The Median household income of a West Palm Beach (zip 33406) resident is $65,035 a year. The US average is $69,021 a year.