27950 Knotts Island, NC is an attractive location due to its affordable housing and lower than average grocery costs. The 2 Bedroom Rent in Knotts Island is $1,150 which is significantly less than the US average of $1,430. Additionally, the Grocery Cost Index in Knotts Island is 99 versus 100 in the US, meaning groceries are slightly more affordable here. There are many local companies that call this area home including: Knotts Island Hardware & Supply Co., Knotts Island Marina & Boatyard Inc., and Knotts Island Farms. As a comparison, neighboring Currituck County's 2 Bedroom Rent is $1,201 while its Grocery Cost Index is 101 so people looking to save money on housing and groceries may find Knotts Island to be a great choice for their next home.
Knotts Island (zip 27950) has an unemployment rate of 4.4%. The US average is 6.0%.
Knotts Island (zip 27950) has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 36.2%, which is higher than the US average of 33.5%.
Tax Rates for Knotts Island (zip 27950)
- The Sales Tax Rate for Knotts Island (zip 27950) is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Knotts Island (zip 27950) 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 Knotts Island (zip 27950)
- The average income of a Knotts Island (zip 27950) resident is $25,513 a year. The US average is $28,555 a year.
- The Median household income of a Knotts Island (zip 27950) resident is $82,862 a year. The US average is $69,021 a year.