Oil City, Pennsylvania (16301) is a great place for those who are looking for a convenient and affordable place to live. With a population of 7,845, the city offers its residents an array of amenities. The average two-bedroom rental cost in Oil City is $720 per month - significantly lower than the US average of $1,430 - making it ideal for those on a budget. Grocery cost index in Oil City is 95 versus 100 in the US, providing another reason why living in Oil City may be more attractive than living elsewhere. Local businesses such as Kuzneski Insurance Agency, S&T Bank and Brawley Chiropractic Clinic offer their services to the community and create job opportunities for locals. With its low cost of living and thriving business landscape, Oil City provides a great quality of life to its inhabitants.
Oil City (zip 16301) has an unemployment rate of 8.1%. The US average is 6.0%.
Oil City (zip 16301) has seen the job market decrease by -5.8% over the last year. Future job growth over the next ten years is predicted to be 9.5%, which is lower than the US average of 33.5%.
Tax Rates for Oil City (zip 16301)
- The Sales Tax Rate for Oil City (zip 16301) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Oil City (zip 16301) is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oil City (zip 16301)
- The average income of a Oil City (zip 16301) resident is $27,083 a year. The US average is $37,638 a year.
- The Median household income of a Oil City (zip 16301) resident is $51,680 a year. The US average is $69,021 a year.