Siloam, NC is a small but thriving rural town located in Surry County. Home to just over 300 people, this town provides a relaxing atmosphere with plenty of nearby attractions for those who call it home. Despite its small size, residents still benefit from excellent job opportunities and low housing costs. In Siloam, NC the average two-bedroom rent is $750 compared to the national average of $1,430. Additionally, groceries in Siloam are quite affordable with a grocery cost index of 95 versus 100 in the US. Local businesses include Siloam Veterinary Service Inc., Siloam Upholstery Shop and Post Office #2747 along with other small businesses that help keep the economy running strong. Overall, residents can enjoy all the advantages of living in a rural area without breaking their budget thanks to affordable housing costs and an overall lower cost of living than most places in the US.
Siloam (zip 27047) has an unemployment rate of 4.2%. The US average is 6.0%.
Siloam (zip 27047) has seen the job market decrease by -7.9% over the last year. Future job growth over the next ten years is predicted to be 32.1%, which is lower than the US average of 33.5%.
Tax Rates for Siloam (zip 27047)
- The Sales Tax Rate for Siloam (zip 27047) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Siloam (zip 27047) 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 Siloam (zip 27047)
- The average income of a Siloam (zip 27047) resident is $20,902 a year. The US average is $37,638 a year.
- The Median household income of a Siloam (zip 27047) resident is $61,458 a year. The US average is $69,021 a year.