Wharton is a small city in Colorado County with a population of 8,793 according to the 2019 Census.
The cost of living in Wharton is significantly lower than the national average:
Average 2-bedroom rent rate in Wharton: $850, compared to the national rate of $1,430.
Grocery Cost Index in Wharton: 95, compared to the national average of 100, indicating cheaper groceries.
Notable businesses in Wharton include Academy Sports + Outdoors, Home Depot, Walmart Supercenter, and Best Buy, making it an attractive place for affordable living.
Wharton’s unemployment rate is 7.1%, higher than the US average of 6.0%.
The city has experienced a 2.0% job market increase over the last year, with a predicted future job growth of 26.6% over the next ten years, slightly below the US average of 33.5%.
Tax rates for Wharton:
Sales Tax Rate: 8.3%, higher than the US average of 7.3%.
Income Tax Rate: 0.0%, lower than the US average of 4.6%.
Income and Salaries in Wharton:
Average income of a resident: $15,998 per year, significantly lower than the US average of $28,555 per year.
Median household income of a resident: $27,855 per year, also lower than the US average of $53,482 per year.