Wood River Junction, RI (02894) is an ideal location for those looking for a unique and quiet place to live. With a population of just 1,250 people, Wood River Junction is a small but cozy community that offers plenty of amenities without the hustle and bustle of larger cities or towns. The median 2 bedroom rent in Wood River Junction is $1,580 compared to the national average of $1,430 and grocery costs are slightly higher at 107 versus 100 nationally.
Those seeking employment in and around Wood River Junction will find several local companies including the JEJ Woodworking Company, which specializes in handcrafted wood furniture; the Blackstone Valley Railway Society, which operates heritage railroads; and the Apple Valley Orchard & Cider Mill, which is a major provider of fresh fruit products as well as cider and other apple-based items.
Overall the cost of living in Wood River Junction is slightly higher than elsewhere in the United States due to its small population size and limited job opportunities available locally. However, many people find this rural community to be more than worth it with its charming atmosphere and affordable housing options.
Wood River Junction (zip 02894) has an unemployment rate of 6.5%. The US average is 6.0%.
Wood River Junction (zip 02894) has seen the job market decrease by -9.5% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Wood River Junction (zip 02894)
- The Sales Tax Rate for Wood River Junction (zip 02894) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Wood River Junction (zip 02894) is 3.8%. The US average is 4.6%.
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Income and Salaries for Wood River Junction (zip 02894)
- The average income of a Wood River Junction (zip 02894) resident is $49,613 a year. The US average is $37,638 a year.
- The Median household income of a Wood River Junction (zip 02894) resident is $71,813 a year. The US average is $69,021 a year.