Virginia City, MT is a small town located in Madison County. With a population of just over 500 people, it is one of the smallest towns in Montana. The town’s economy is mainly driven by tourism and services related to its rich historical heritage. The average rent for a two-bedroom home in Virginia City is $1,020 which is slightly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Virginia City is 99 as opposed to 100 in the US on average.
Mining and ranching are some of the most popular economic activities in this region. Companies like Bannack Mining Corporation and Seldom Seen Ranch make up much of the local economy. Bannack Mining Corporation was established in 2006 and specializes in gold mining while Seldom Seen Ranch offers scenic horseback rides and tours through its 300 acres of land and rich natural landscapes. Both companies offer excellent job opportunities to locals and attract tourists to this small community.
Virginia City (zip 59755) has an unemployment rate of 3.9%. The US average is 6.0%.
Virginia City (zip 59755) has seen the job market decrease by -6.7% over the last year. Future job growth over the next ten years is predicted to be 23.1%, which is lower than the US average of 33.5%.
Tax Rates for Virginia City (zip 59755)
- The Sales Tax Rate for Virginia City (zip 59755) is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Virginia City (zip 59755) is 6.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Virginia City (zip 59755)
- The average income of a Virginia City (zip 59755) resident is $56,561 a year. The US average is $37,638 a year.
- The Median household income of a Virginia City (zip 59755) resident is $68,750 a year. The US average is $69,021 a year.