Montgomery, Louisiana (zip code 71454) is a small town with a population of around 1,001 people. The median rent for a two bedroom apartment in Montgomery is $730, which is significantly lower than the national average of $1,430. This lower cost of living also extends to groceries as the Grocery Cost Index in Montgomery is 89 compared to 100 in the US. In Montgomery residents can get their groceries at local stores such as Piggly Wiggly Market or Cleco Supermarket, while they can also shop at larger chain stores like Walmart for more variety. While it may be cheaper to live in Montgomery than other parts of the country due to its low rental prices and grocery costs, there are fewer job opportunities available which could explain why it's so much cheaper than other areas of the country.
Montgomery (zip 71454) has an unemployment rate of 4.2%. The US average is 6.0%.
Montgomery (zip 71454) has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 17.4%, which is lower than the US average of 33.5%.
Tax Rates for Montgomery (zip 71454)
- The Sales Tax Rate for Montgomery (zip 71454) is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Montgomery (zip 71454) is 6.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Montgomery (zip 71454)
- The average income of a Montgomery (zip 71454) resident is $21,087 a year. The US average is $28,555 a year.
- The Median household income of a Montgomery (zip 71454) resident is $44,725 a year. The US average is $69,021 a year.