23937 Drakes Branch, VA is a small town located on the edge of Lunenburg County in Central Virginia. It is conveniently situated close to local amenities such as grocery stores, schools and parks. The cost of living in Drakes Branch is quite low - according to Numbeo, 2 bedroom rent averages at $770 a month in comparison with the US average of $1430. On top of this, grocery costs are about 6% lower than the national average with an index score of 94 versus 100 in the US. Local businesses in Drakes Branch include the Lunenburg Drive-In Theater, Joe's Bar-B-Que & Fish Shack and Goldsmith Farms. Residents enjoy regular events such as weekly farmers markets and summer festivals that encourage community spirit among locals.
Drakes Branch (zip 23937) has an unemployment rate of 5.2%. The US average is 6.0%.
Drakes Branch (zip 23937) has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%.
Tax Rates for Drakes Branch (zip 23937)
- The Sales Tax Rate for Drakes Branch (zip 23937) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Drakes Branch (zip 23937) 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 Drakes Branch (zip 23937)
- The average income of a Drakes Branch (zip 23937) resident is $19,800 a year. The US average is $37,638 a year.
- The Median household income of a Drakes Branch (zip 23937) resident is $40,174 a year. The US average is $69,021 a year.