Zip 24613 (Falls Mills, VA) Economy


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United States / Virginia / Bluefield Metro Area / Tazewell County / No City / Falls Mills (zip 24613)
Falls Mills, Virginia is a great place to live for those looking for a more affordable cost of living. With a 2 bedroom rent of just $730 compared to the national average of $1,430, it is an attractive option for those looking for reliable housing without breaking the bank. Grocery costs in Falls Mills also come in below the national average, with an index of 92 compared to 100. Additionally, being close to 24613 Falls Mills can be beneficial due to its proximity to some great local companies. Such companies include Performance Automotive Group, Performance Power Equipment LLC and Paradise Ranch Horse Rescue & Sanctuary. These businesses offer residents employment opportunities as well as services that make living in Falls Mills even more enjoyable.

Falls Mills (zip 24613) has an unemployment rate of 6.3%. The US average is 6.0%.

Falls Mills (zip 24613) has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 16.3%, which is lower than the US average of 33.5%.

Tax Rates for Falls Mills (zip 24613)
- The Sales Tax Rate for Falls Mills (zip 24613) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Falls Mills (zip 24613) 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 Falls Mills (zip 24613)
- The average income of a Falls Mills (zip 24613) resident is $21,965 a year. The US average is $28,555 a year.
- The Median household income of a Falls Mills (zip 24613) resident is $38,500 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyFalls Mills, VirginiaUnited States
  6.36
  -5.1%-6.2%
  16.3%33.5%
  5.3%6.2%
  5.8%4.6%
  $18,078$37,638
  $38,500$69,021
  $29,539$85,028
  Population by Occupation
  0.0%1.2%
  0.0%0.5%
  0.0%6.8%
  12.8%10.0%
  0.0%2.5%
  0.0%11.0%
  9.2%4.8%
  0.0%0.8%
  0.0%1.9%
  0.0%4.7%
  0.0%1.9%
  0.0%7.6%
  0.0%0.1%
  0.0%4.2%
  25.0%9.3%
  31.6%14.0%
  0.0%2.1%
  21.4%7.0%
  0.0%4.8%
  0.0%4.7%
Health