Coventry, RI (02816) is a bustling town with plenty of possibilities for employment, shopping, recreation and more. The average two bedroom rent in Coventry is $1,410 which is slightly lower than the national average of $1,430. Coventry also fares well in terms of grocery cost index - it stands at 106 versus the 100 national average. This makes the cost of living here quite affordable.
The town hosts a number of commercial and industrial operations including fast food restaurants McDonalds and Burger King; manufacturers like Commonwealth Plastics Inc., Coventry Metal Products Inc., Coventry Precision Tool & Die Corp. and others; retailers such as Walmart Supercenter and Stop & Shop; and various service businesses like nail salons, banks, auto repair shops and more. All this contributes to local economic growth by providing jobs to area residents.
Overall, Coventry displays favorable economic indicators that make it an attractive place to live or own a business. It has a competitive 2 bedroom rent rate coupled with a higher-than-average grocery cost index which mean that living here can be very economical. In addition to this, the town offers plenty of work opportunities through its companies and businesses across all sectors – from manufacturing to retail – making it a great location for anyone seeking employment or job stability.
Coventry (zip 02816) has an unemployment rate of 6.8%. The US average is 6.0%.
Coventry (zip 02816) has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 30.5%, which is lower than the US average of 33.5%.
Tax Rates for Coventry (zip 02816)
- The Sales Tax Rate for Coventry (zip 02816) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Coventry (zip 02816) is 3.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Coventry (zip 02816)
- The average income of a Coventry (zip 02816) resident is $31,612 a year. The US average is $28,555 a year.
- The Median household income of a Coventry (zip 02816) resident is $86,981 a year. The US average is $69,021 a year.