Velma, Oklahoma is a small rural town located in Johnston County. It has a population of just over one thousand people and is known for its friendly community atmosphere. The average two bedroom rent price here is $700 which is significantly lower than the national average of $1,430. The Grocery Cost Index in Velma is 88 versus 100 in the US, making it an affordable place to live.
Velma has several local businesses that benefit the community including Velma Café which serves delicious home-style meals, Brewer’s BBQ which specializes in smoked meats and sides, and Nail’s Hardware & Grocery for all your essential needs. In addition to these businesses there are also a few specialty shops like H & J Boutique where you can find unique clothing items, Dolly’s Antiques that showcase vintage pieces from around the world and Baxter’s Pawn Shop for something more unusual. All of these businesses contribute to the rich culture and charm of this small Oklahoma town.
Velma (zip 73491) has an unemployment rate of 5.0%. The US average is 6.0%.
Velma (zip 73491) has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 5.2%, which is lower than the US average of 33.5%.
Tax Rates for Velma (zip 73491)
- The Sales Tax Rate for Velma (zip 73491) is 9.0%. The US average is 7.3%.
- The Income Tax Rate for Velma (zip 73491) is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Velma (zip 73491)
- The average income of a Velma (zip 73491) resident is $26,189 a year. The US average is $37,638 a year.
- The Median household income of a Velma (zip 73491) resident is $66,667 a year. The US average is $69,021 a year.