Lubbock, Texas is a great place to live with its affordable cost of living. Rent for two bedrooms in the Lubbock Metro Area is an average of $1,010 which is substantially lower than the national average of $1,430. The Grocery Cost Index in Lubbock is also much lower than the US average at 91 versus 100. With this low cost of living, people who move to Lubbock can save money while still enjoying everything the city has to offer. There are many local businesses that make this area unique and contribute to the economy including E-Z Stop Food Marts, United Supermarkets, and Grace Hotel Group. These businesses provide jobs for residents and offer competitive wages along with excellent benefits such as health insurance and retirement plans. All of these factors make Lubbock a great place to call home.
Lubbock Metro Area has an unemployment rate of 5.8%. The US average is 6.0%.
Lubbock Metro Area has seen the job market decrease by -3.9% over the last year. Future job growth over the next ten years is predicted to be 38.8%, which is higher than the US average of 33.5%.
Tax Rates for Lubbock Metro Area
- The Sales Tax Rate for Lubbock Metro Area is 8.2%. The US average is 7.3%.
- The Income Tax Rate for Lubbock Metro Area is 0.0%. The US average is 4.6%.
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Income and Salaries for Lubbock Metro Area
- The average income of a Lubbock Metro Area resident is $30,775 a year. The US average is $37,638 a year.
- The Median household income of a Lubbock Metro Area resident is $56,167 a year. The US average is $69,021 a year.