As a business owner in Nettleton, Mississippi, it is essential to have a comprehensive understanding of the local labor market. From homeownership costs to rental costs, income and poverty levels, unemployment rates, travel times, schools, and demographics, there are numerous factors that can influence the success of a business. The recent layoffs at United Furniture serve as a reminder of the importance of economic development policy in helping existing businesses survive and encouraging rural entrepreneurs to set up businesses. However, there is debate over which types of companies (in terms of age and size) the state should promote. In terms of new establishments, Mississippi and the U.
S. have nearly the same proportion. This implies that businesses in Nettleton have the same potential for success as those in other parts of the country. To gain a better understanding of the local labor market in Nettleton, Mississippi, it is important to consider the following factors:
Homeownership CostsThe median home value in Nettleton is $87,400, which is lower than the national median home value of $184,700. The median list price per square foot in Nettleton is $77, which is lower than the national median list price per square foot of $140.
The median price of homes currently listed in Nettleton is $99,900 while the median price of homes that sold is $86,400.
Rental CostsThe median rent price in Nettleton is $735 per month. This is lower than the national median rent price of $949 per month. The average rent for a one-bedroom apartment in Nettleton is $541 per month while a two-bedroom apartment averages $664 per month.
Income and Poverty LevelsThe median household income in Nettleton is $37,945. This is lower than the national median household income of $61,937. The poverty rate in Nettleton is 28.3%, which is higher than the national poverty rate of 11.8%.
Unemployment RatesThe unemployment rate in Nettleton is 6.3%, which is lower than the national unemployment rate of 8.1%.
Travel TimesThe average commute time for residents of Nettleton is 18 minutes, which is lower than the national average commute time of 26 minutes.
SchoolsNettleton has two public schools: Nettleton High School and Nettleton Middle School. Both schools are rated “Good” by GreatSchools.
DemographicsThe population of Nettleton is 4,845 people.
The racial makeup of the city is 79% White, 17% African American, 1% Asian, and 3% Hispanic or Latino.