24277 Pennington Gap, VA is a small town in Lee County with a population of 2,569 residents. It offers a variety of housing options from single family apartments to condos. The average two bedroom rent in 24277 Pennington Gap is $810 which is significantly lower than the national average cost of $1,430. Grocery costs are also relatively lower in 24277 Pennington Gap with an index score of 93 compared to 100 in the US. Furthermore, utilities are typically cheaper in Pennington Gap as well. Local businesses include Dollar General Stores, Food City Grocery Store, and Penningtongap Pharmacy for affordable goods and services. Overall, the cost of living is fairly low when compared to other areas and is attractive to those looking for a budget-friendly place to call home.
Pennington Gap (zip 24277) has an unemployment rate of 5.6%. The US average is 6.0%.
Pennington Gap (zip 24277) has seen the job market decrease by -3.2% over the last year. Future job growth over the next ten years is predicted to be 17.3%, which is lower than the US average of 33.5%.
Tax Rates for Pennington Gap (zip 24277)
- The Sales Tax Rate for Pennington Gap (zip 24277) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Pennington Gap (zip 24277) 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 Pennington Gap (zip 24277)
- The average income of a Pennington Gap (zip 24277) resident is $15,080 a year. The US average is $37,638 a year.
- The Median household income of a Pennington Gap (zip 24277) resident is $29,938 a year. The US average is $69,021 a year.