Chapel Hill, NC (ZIP code: 27516) is an affluent city located in North Carolina's Research Triangle region. It has a population of around 59,000 people and is home to numerous businesses and institutions such as UNC-Chapel Hill, Duke University, IBM, Cree and SAS Institute. The average rent for a two bedroom apartment in Chapel Hill is $1,250 which is significantly lower than the national average of $1,430. It also has a grocery cost index of 103 which is slightly higher than 100 on the national level.
Chapel Hill (zip 27516) has an unemployment rate of 3.2%. The US average is 6.0%.
Chapel Hill (zip 27516) has seen the job market decrease by -5.6% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Chapel Hill (zip 27516)
- The Sales Tax Rate for Chapel Hill (zip 27516) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Chapel Hill (zip 27516) is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Chapel Hill (zip 27516)
- The average income of a Chapel Hill (zip 27516) resident is $48,601 a year. The US average is $37,638 a year.
- The Median household income of a Chapel Hill (zip 27516) resident is $85,714 a year. The US average is $69,021 a year.