Newport News, Virginia (23601) is a great place to live with relatively affordable rent. A two bedroom apartment here rents for around $1,100 a month, which is significantly lower than the US average of $1,430. Grocery costs are also generally cheaper here as the cost index is 97 versus 100 in the US. The area is home to several large companies such as Canon Virginia Inc., Huntington Ingalls Industries Inc., and Ferguson Enterprises Inc. Additional noteworthy businesses include Ferguson Bath, Kitchen & Lighting Gallery; Teagle Insurance Agency; NN Shipbuilding & Drydock Co.; and Creef-Hurst Funeral Home.
Newport News (zip 23601) has an unemployment rate of 7.2%. The US average is 6.0%.
Newport News (zip 23601) 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 31.6%, which is lower than the US average of 33.5%.
Tax Rates for Newport News (zip 23601)
- The Sales Tax Rate for Newport News (zip 23601) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Newport News (zip 23601) 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 Newport News (zip 23601)
- The average income of a Newport News (zip 23601) resident is $34,925 a year. The US average is $37,638 a year.
- The Median household income of a Newport News (zip 23601) resident is $57,182 a year. The US average is $69,021 a year.