24526 Big Island, VA is a small town in Bedford County with a population of around 300 people. It's known for its peaceful atmosphere and stunning scenery. It has close access to Smith Mountain Lake, making it an ideal place to relax and enjoy nature. Local companies include Virginia Hardwood Company, which specializes in high-quality hardwood flooring; Kirks Cottages & Cabins, specializing in rustic vacation rentals; and Smith Mountain Motorsports, offering outdoor recreational products and services. Living costs in 24526 Big Island are relatively low compared to the US average. The median 2-bedroom rent is $1,010 versus the US average of $1,430. Grocery cost index here is 97 versus 100 in the US. In short, living costs in Big Island offer great value for money without sacrificing quality amenities or access to recreation opportunities.
Big Island (zip 24526) has an unemployment rate of 4.7%. The US average is 6.0%.
Big Island (zip 24526) has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for Big Island (zip 24526)
- The Sales Tax Rate for Big Island (zip 24526) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Big Island (zip 24526) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Big Island (zip 24526)
- The average income of a Big Island (zip 24526) resident is $29,587 a year. The US average is $28,555 a year.
- The Median household income of a Big Island (zip 24526) resident is $63,246 a year. The US average is $69,021 a year.